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Bhutan Stakes 320 Ether via Figment.io, Enhancing Blockchain Involvement
The government of Bhutan staked 320 Ethereum (ETH) on November 27, 2025, via Figment.io, an institutional staking provider. At the time, ETH was valued at approximately $970,000.
Details of the Staking Move
- 320 ETH were used to create 10 new validators, following the rule that each validator requires 32 ETH.
- This is Bhutan’s largest ETH action since transferring 570 ETH in May 2025.
Beyond Treasury Management
- By staking ETH, Bhutan helps secure the Ethereum network and earns validator rewards.
- The move aligns with national plans to shift digital identity projects to Ethereum from Polygon, potentially integrating it into public infrastructure.
What It Means For Bhutan
- Bhutan holds around 6,154 Bitcoin (BTC), indicating BTC as the primary reserve asset.
- Staking ETH reflects Bhutan's experimentation with crypto for state services and network involvement.
On Liquidity and Rewards
- Staked ETH becomes illiquid based on network rules, limiting immediate use but earning rewards that may add income to the treasury.
- Participation increases protocol security but reduces short-term asset flexibility, raising questions about sovereign staking's influence on other nations.
Broader Crypto Context
- The action is symbolic as sovereign actors rarely operate validators on major smart-contract chains.
- Regulators, market watchers, and developers are observing Bhutan's actions to anticipate similar moves by other countries.