According to TechFlow, as the approval of the Ethereum ETF (Exchange Traded Fund) approaches, the amount of staked Ethereum (ETH) is approaching a record high, according to CoinDesk. According to CryptoQuant data, the total amount of staked ETH is currently 33.3 million, accounting for 27.7% of the total supply. Polymarket speculators believe that the Ethereum ETF will be approved by the United States before July 26, with a probability of up to 90%. Despite the increase in ETH supply, the staking and destruction mechanism has balanced its inflation to a certain extent. In recent weeks, ETH spot trading volume has reached 80%-90% of Bitcoin (BTC) trading volume.

In addition, CoinMetrics data shows that about 12% of the ETH supply is used for smart contracts or cross-chain bridges. Together with the pledge part, about 40% of ETH is "locked" and not involved in active transactions. Currently, several companies including Invesco and Galaxy have announced that their proposed spot Ethereum ETF management fees are 0.25%, slightly higher than VanEck's 0.20%. However, before trading begins, the U.S. Securities and Exchange Commission (SEC) still needs to provide feedback on the current application, and the issuer needs to submit a final revised form containing fee information and other required details.