TLDR
- Bhutan has staked 320 Ethereum tokens through the institutional provider Figment.io.
- The transaction occurred on November 27, 2025, at 10:30:35 UTC.
- The staked Ethereum activates 10 new validators on the network.
- This marks Bhutan’s first major Ethereum activity since May 2025.
- The country now holds 336 ETH worth approximately $1.01 million.
The Royal Government of Bhutan staked 320 Ethereum on November 27, 2025, through institutional provider Figment.io. This is Bhutan’s first Ethereum-related move in months and involves assets valued at approximately $970,820.
Ethereum Staking Resumes With 320 Tokens Locked
Bhutan resumed its Ethereum activity by staking 320 ETH via Figment.io at exactly 10:30:35 UTC on November 27, 2025. The tokens were sent to the Ethereum staking contract from wallets tied to Druk Holding and Investments.
Each validator on Ethereum requires 32 ETH, which confirms Bhutan activated 10 new validators through this transaction. The government had paused ETH transactions for months after a previous May transfer to Binance.
Arkham Intelligence linked the wallet addresses to Bhutan’s official investment arm, confirming its ownership of the ETH. Onchain Lens also verified the transaction, aligning the timestamp and the exact token volume transferred.
The Royal Government of Bhutan sent 320 $ETH, worth $920.8K, for staking into #ETH2.0 @Figment_io.https://t.co/q4dW3qJBT5 pic.twitter.com/qo0evHxthf
— Onchain Lens (@OnchainLens) November 27, 2025
Bitcoin Remains Bhutan’s Primary Crypto Reserve
Despite the ETH activity, Bitcoin remains Bhutan’s top crypto holding with 6,154 BTC in reserve. The Bitcoin assets are currently valued at around $560.26 million, according to Arkham Intelligence records.
Bhutan continues to hold Ethereum and other digital assets, but none match the volume of its Bitcoin portfolio. Bitcoin, Ethereum, and Binance Coin have been categorized as reserve assets for Gelephu Mindfulness City.
These three assets were chosen due to their strong liquidity and larger market capitalization. Gelephu officials said the reserve will support the regional digital economy and improve resilience.
Bhutan Transfers 320 ETH, Now Holds 336 ETH in Reserve
Following the new staking, Bhutan’s ETH balance now stands at 336 ETH, valued near $1.01 million. This makes Ethereum the second-largest crypto holding in Bhutan’s portfolio after Bitcoin.
The last ETH movement before this occurred in May when Bhutan moved 570 ETH to Binance. That transaction was valued around $1.02 million at that time, showing a consistent ETH reserve pattern.
Staking through Figment.io indicates a continued commitment to Ethereum’s infrastructure.
Bhutan’s ETH usage reflects a long-term strategy rather than short-term speculation.
National Digital Identity System Shifts to Ethereum
Bhutan has begun migrating its National Digital Identity (NDI) system from Polygon to Ethereum. The shift aims to enhance user control, transparency, and system-level security.
Government sources said the migration began in October and should complete by early 2026. Ethereum was selected due to its robust security features and larger validator network.
The move reflects growing institutional adoption of Ethereum beyond simple asset holding. It also supports the country’s digital governance plans using blockchain-based identity verification.
Bhutan’s crypto reserves now play a dual role in economy and public services. By staking ETH and expanding blockchain services, Bhutan increases its presence in digital infrastructure.
The crypto strategy includes using blockchain to secure government platforms and holdings. This comes after months of quiet activity on-chain, with renewed interest now visible.
The government’s latest ETH staking marks a new stage in blockchain adoption. Bhutan has committed both capital and infrastructure to Ethereum, supporting its evolving digital roadmap.
