Bhutan Enhances Its Crypto Strategy: 320 Ether Staked

Summary:
On November 27, 2025, Bhutan's government moved 320 Ethereum (ETH) into staking through Figment.io, valued at approximately $970,000. This significant shift demonstrates Bhutan's commitment to not just holding cryptocurrency as an asset but actively participating in the Ethereum network, potentially impacting its digital economy and infrastructure.

Key Takeaways

Bhutan staked 320 ETH worth about $970,000 on November 27, 2025.
This action created 10 new validators in the Ethereum network.
The move aims to enhance both national digital identity initiatives and participation in blockchain technology.
Bhutan holds approximately 6,154 BTC, primarily utilizing Bitcoin as a reserve asset.
Staking ETH reduces immediate liquidity for funds but generates rewards for the state treasury.

Ether

Details of the Staking Move

According to Onchain Lens, Bhutan's transfer of 320 ETH created 10 new validators, adhering to the network requirement of 32 ETH per validator. The transaction, along with the validator setup, was recorded on the blockchain and quickly became visible to blockchain trackers.

This marked Bhutan's most significant ETH activity since May 2025, when it transferred 570 ETH to a Binance wallet, as revealed in earlier reports.

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

Expanding Beyond Treasury Management

Experts note that Bhutan's strategy extends beyond merely holding cryptocurrency as an asset. By staking ETH, Bhutan is supporting the security of the Ethereum network while earning rewards from validator participation.

Moreover, the staking initiative is connected to broader national plans to transition elements of its digital identity project from the Polygon blockchain to Ethereum, transforming the blockchain from a simple fund-holding platform to a vital component of public infrastructure.

Bhutan's Crypto Strategy

Bhutan is also recognized for possessing a substantial quantity of Bitcoin, with estimates putting its Bitcoin reserves at around 6,154 BTC, solidifying Bitcoin as its primary reserve asset. Staking ETH, though smaller in scale, signifies Bhutan's exploration of utilizing cryptocurrency not just for investment but as a functional tool for public services and network engagement. Analysts view this action as a trial by a smaller state to explore innovative financial and technical frameworks.

Crypto Market Overview
Total crypto market cap currently stands at $3,059 billion. Chart: TradingView

Staked ETH becomes illiquid for a period defined by network rules, implying that these tokens cannot be immediately used for spending or trading. However, validators receive rewards, which could add a modest stream of income to the state's treasury.

The trade-offs are evident: increased participation in securing the protocol and diminished short-term liquidity of assets. Several commentators question whether this move towards sovereign staking could influence how other small nations manage their crypto reserves.

While the total amount may appear modest in a global context, the move is symbolic. It is rare for sovereign entities to operate validators on major smart-contract platforms. This step is noteworthy as it connects public service enhancement and reserve management through a single blockchain.

Regulators, market analysts, and blockchain developers are closely observing this transaction and the accompanying policy implications, anticipating potential similar initiatives in other regions.

Featured image from Unsplash, chart from TradingView