Bhutan Government Participates in Ethereum Staking via Figment, 320 ETH Send a New Signal

According to on-chain data, the government of the Kingdom of Bhutan recently transferred 320 ETH to staking service provider Figment. Based on the current Ethereum price of $3.22K, this asset is valued at approximately $970,000.

This move has attracted market attention. Government agencies' attitudes toward digital assets have always been an important industry indicator. Bhutan's direct participation in the Ethereum staking ecosystem indicates that governments' recognition of mainstream public chain asset allocation is on the rise. Operating through professional staking service providers like Figment also reflects the government's cautious approach to risk management and compliant operations.

As the second-largest global cryptocurrency, ETH staking demand continues to grow. The Bhutanese government's involvement further diversifies the participants in the staking ecosystem. In addition to individual and institutional investors, there is now participation from government reserve funds, which positively impacts Ethereum network security and the stability of staking yields.

Government-level asset allocation decisions often require long-term considerations. The staking of 320 ETH may just be the beginning; whether more government agencies will follow suit remains to be seen.