Bhutan is staking its future on Ethereum, both financially and digitally, with a new $970,000 ETH investment and a national digital ID system built directly on the Ethereum blockchain.
Key Takeaways
- Bhutan has staked 320 ETH, valued at approximately $970,000, using the staking platform Figment.
- This marks a deeper commitment to blockchain, following the country’s digital ID system launch on Ethereum in October 2025.
- The Royal Government of Bhutan’s wallet still holds over $1 million in ETH and more than $560 million in Bitcoin.
- Ethereum’s price recently bounced near $3,000 as analysts predict a rally ahead of the upcoming Fusaka upgrade.
What Happened?
On November 27, 2025, the Royal Government of Bhutan moved 320 ETH, worth around $970,000, to Figment, a platform specializing in secure institutional Ethereum staking. This action closely follows the country’s October launch of a national digital identity system built on the Ethereum blockchain.
Bhutan has now become the first country to anchor its identity infrastructure on Ethereum. The initiative was unveiled with support from key Ethereum figures including Vitalik Buterin and Aya Miyaguchi, CEO of the Ethereum Foundation, who both attended the launch ceremony in Bhutan.
Royal Government of #Bhutan staked 320 $ETH($971K) 2 hours ago.https://t.co/hiNf1ySism pic.twitter.com/1A6bhsaRSM
— Lookonchain (@lookonchain) November 27, 2025
Bhutan’s Blockchain Ambitions Expand
Bhutan is not new to the crypto world, but its latest moves significantly expand its involvement in blockchain technology.
- The wallet associated with the Royal Government of Bhutan previously sold over 1,100 ETH, worth more than $2.2 million, over the past year.
- Despite this, it still retains a balance of 336 ETH, worth over $1.02 million, indicating potential for more staking.
- More impressively, the government also holds over 6,150 BTC, valued at approximately $562 million.
The latest ETH transfer to Figment represents Bhutan’s first staking move and reflects a strong vote of confidence in Ethereum’s long-term value and network security. The government’s crypto holdings are managed by Druk Holding and Investments, Bhutan’s state-owned investment firm.
National ID Now Running on Ethereum
Bhutan’s decision to place its national digital ID system on Ethereum is a bold step in public sector innovation. Launched on October 13, 2025, the system aims to give Bhutanese citizens self-sovereign control over their credentials.
According to Aya Miyaguchi, the rollout aligns with Ethereum’s principles of decentralization and transparency. The migration of all credentials to Ethereum is scheduled for completion by the first quarter of 2026.
She described the collaboration as a reflection of shared values between Bhutan and the Ethereum community, noting the project was developed with long-term integrity in mind.
Market Response and ETH Price Outlook
Ethereum’s price saw a modest rebound near the $3,000 level on the same day as Bhutan’s staking news. This uptick came amid broader crypto market momentum and ahead of Ethereum’s Fusaka upgrade set for December 3, 2025.
Analyst Ted Pillows predicts that ETH could rally toward $3,400 if the $3,000 level is held, citing increased inflows into spot ETH ETFs and renewed investor interest following recent infrastructure developments like Bhutan’s ID system.
ETH has risen over 3 percent in the past 24 hours, trading at $3,037 at the time of publication.
CoinLaw’s Takeaway
Honestly, I find Bhutan’s Ethereum integration impressive. It’s not just about throwing money into crypto. They are building real systems like a national digital ID on Ethereum, something we usually only see discussed in theory. In my experience, countries that use blockchain for governance rather than speculation tend to spark the most sustainable innovation. The staking move reinforces that they are committed to Ethereum’s ecosystem, not just dabbling in digital assets. I think we’ll look back at Bhutan as a pioneer in blockchain-powered public infrastructure.
