A sudden shift in Ethereum staking is draining billions from exchanges toward a new corporate elite

By the end of 2025, a corner of the market most Ethereum traders rarely watch had built a position large enough to matter for everyone else.

Everstake’s annual while still preferring “enterprise-grade” staking structures.

It adds an exchange snapshot that reinforces the point. Everstake says Coinbase’s share fell by roughly 1.5 million staked ETH, from 10.17% to 5.54%, while Binance increased from 2.02 million to 3.14 million ETH, with the share rising from 5.95% to 8.82%.