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Data · Updated Oct 20 2026

Ethereum Staking APR History: ETH Staking Yield by Year and Month Since 2020

Short answer · As of October 20, 2026: Ethereum staking pays about 2.2% to 2.6% a year: Lido stETH 2.22% APR (7-day average), Rocket Pool rETH 1.89%, Coinbase 1.64% APY, and about 2.51% plus tips and MEV for a solo validator. That is down from about 5% to 7.5% in 2021. Measured on-chain, holding stETH earned 4.58% in 2022, 4.45% in 2023, 3.23% in 2024 and 2.85% in 2025. The main reason is that staked ETH rose from 2 million to 43.76 million (35.8% of all ETH), and the reward per ETH falls with the square root of the total staked.

GrowYourEthereum Research Oct 20 2026 11 min read
  • 2.22%Lido stETH APR, 7-day average on Oct 20, 2026 (net of Lido’s 10% fee)
  • 2.51%Consensus-layer reward rate for a validator today, before tips and MEV (ultrasound.money)
  • 43.76M ETHStaked on Oct 20, 2026, about 35.8% of all ETH, up from 2.0M in January 2021
  • 4.58% → 2.85%What holding stETH actually earned in 2022 versus 2025 (on-chain, after fees)

Ethereum staking APR by year

“Return” is what one token actually gained in ETH over the calendar year, read from its on-chain exchange rate on January 1 of each year, so the fee and compounding are included. The consensus-layer column is our formula estimate for a validator before tips and MEV. Staked ETH is the year-end total.

YearLido stETH returnRocket Pool rETH returnConsensus-layer APR (derived avg)ETH staked at year end
2021 (stETH from Feb 1)5.33% (5.84% a year)Nov–Dec only (3.79% a year)7.45%8.83M
20224.58%4.28%4.73%15.81M
20234.45%3.92%3.60%28.91M
20243.23%2.81%2.90%33.99M
20252.85%2.59%2.80%35.63M
2026 (to Oct 20)1.92% (2.40% a year)1.75% (2.19% a year)2.63%43.76M (Oct 18)

The consensus average for 2021 includes January (11.6%), before stETH rewards had begun. The beacon chain launched on December 1, 2020; our formula puts December 2020 at about 15.5% with only 1.1 million ETH staked on average. Yields are in ETH, not dollars: for what ETH itself did each year, see the Ethereum price history.

ETH staking APR and total staked, 2020–2026

Switch between the monthly APR lines and total ETH staked. The two move in opposite directions: every big rise in staked ETH (2021, 2023 after withdrawals opened, and 2026) pushed the rate per ETH down. Dashed lines mark the Merge, Shapella and Pectra.

0%2%4%6%8%10%20222023202420252026MergeShapellaPectra
  • Lido stETH (net, measured)
  • Rocket Pool rETH (net, measured)
  • Consensus-layer formula (derived)
Monthly APR from February 2021 (stETH) and November 2021 (rETH) to October 20, 2026, measured from each token’s on-chain exchange rate at the first block of every month. The consensus-layer line is our formula estimate (166.3 ÷ √staked ETH × participation) and excludes tips and MEV. December 2020 (15.5%) and January 2021 (11.6%) are above the chart’s 10% ceiling.

Staking APR by month (newest first)

APRs are simple annualized rates for each calendar month (the October 2026 row covers October 1–20). Staked ETH is the month’s daily average. stETH starts in February 2021 and rETH in November 2021, the first full months after each token began earning.

MonthstETH APRrETH APRConsensus (derived)ETH staked (avg)Participation
Oct 2026 (1–20)2.23%2.06%2.51%43.75M99.79%
Sep 20262.25%2.16%2.52%43.24M99.65%
Aug 20262.21%2.18%2.56%42.09M99.75%
Jul 20262.22%2.21%2.60%40.75M99.72%
Jun 20262.42%1.99%2.63%39.66M99.68%
May 20262.46%2.03%2.66%38.90M99.74%
Apr 20262.49%2.10%2.66%38.86M99.77%
Mar 20262.51%2.06%2.70%37.83M99.68%
Feb 20262.47%2.21%2.73%36.95M99.63%
Jan 20262.45%2.62%2.76%36.09M99.69%
Dec 20252.55%2.29%2.77%35.63M99.30%
Nov 20252.66%2.39%2.77%35.69M99.56%
Oct 20252.75%2.50%2.77%35.71M99.54%
Sep 20252.64%2.37%2.77%35.71M99.56%
Aug 20252.70%2.44%2.77%35.72M99.61%
Jul 20252.72%2.52%2.77%35.68M99.55%
Jun 20252.75%2.55%2.80%34.86M99.53%
May 20252.85%2.59%2.83%34.18M99.35%
Apr 20253.02%2.70%2.84%34.11M99.63%
Mar 20252.95%2.73%2.85%33.78M99.59%
Feb 20253.27%2.85%2.85%33.62M99.52%
Jan 20252.98%2.76%2.85%33.85M99.61%
Dec 20242.92%2.70%2.84%34.07M99.53%
Nov 20243.03%2.87%2.82%34.44M99.62%
Oct 20243.01%2.54%2.83%34.41M99.67%
Sep 20243.05%2.47%2.83%34.32M99.61%
Aug 20243.14%2.64%2.84%33.88M99.57%
Jul 20243.04%2.64%2.87%33.18M99.56%
Jun 20243.13%2.66%2.89%32.72M99.52%
May 20243.08%2.76%2.91%32.25M99.47%
Apr 20243.31%2.90%2.94%31.58M99.43%
Mar 20243.44%2.93%2.95%31.30M99.30%
Feb 20243.45%2.91%3.01%30.22M99.41%
Jan 20243.54%3.16%3.07%28.88M99.37%
Dec 20233.75%3.37%3.10%28.53M99.46%
Nov 20233.78%3.36%3.12%28.17M99.44%
Oct 20233.62%3.13%3.16%27.43M99.45%
Sep 20233.64%3.31%3.27%25.58M99.49%
Aug 20233.92%3.59%3.41%23.47M99.41%
Jul 20234.04%3.83%3.57%21.47M99.40%
Jun 20233.99%3.18%3.71%19.77M99.32%
May 20235.63%4.77%3.85%18.39M99.18%
Apr 20234.73%4.23%3.89%17.98M99.12%
Mar 20235.33%4.56%3.94%17.59M99.31%
Feb 20234.97%4.59%4.05%16.61M99.31%
Jan 20234.95%4.32%4.12%16.03M99.31%
Dec 20224.69%4.28%4.17%15.63M99.22%
Nov 20226.23%6.36%4.26%15.00M99.19%
Oct 20225.40%4.71%4.37%14.27M99.17%
Sep 20224.54%4.22%4.45%13.70M99.15%
Aug 20223.92%3.63%4.54%13.28M99.57%
Jul 20223.96%3.70%4.58%13.06M99.50%
Jun 20224.00%3.70%4.61%12.86M99.41%
May 20223.78%3.62%4.73%12.17M99.25%
Apr 20223.89%3.84%4.97%11.07M99.40%
Mar 20224.17%3.68%5.20%10.07M99.32%
Feb 20224.61%4.29%5.38%9.42M99.34%
Jan 20224.73%4.36%5.50%9.04M99.38%
Dec 20214.87%4.26%5.62%8.65M99.37%
Nov 20214.90%3.17%5.74%8.26M99.26%
Oct 20214.89%–5.80%7.94M98.37%
Sep 20214.82%–5.94%7.55M98.15%
Aug 20215.13%–6.28%6.75M98.20%
Jul 20215.52%–6.61%6.19M98.83%
Jun 20215.81%–7.11%5.35M98.90%
May 20216.23%–7.80%4.47M99.22%
Apr 20217.27%–8.41%3.83M98.96%
Mar 20217.63%–8.80%3.49M98.81%
Feb 20215.51%–9.69%2.85M98.45%
Jan 2021––11.57%2.01M98.56%
Dec 2020––15.50%1.11M98.36%
  • Highest stETH month: March 2021 at 7.63%, when only about 3.5 million ETH was staked.
  • Post-Merge spikes: November 2022 (6.23% stETH, 6.36% rETH) and May 2023 (5.63% stETH), months with heavy on-chain activity; May 2023 was the most expensive month for gas since mid-2022 in our gas price history (61.9 gwei typical).
  • Lowest stETH month: August 2026 at 2.21%. stETH has paid between 2.21% and 2.51% in every month of 2026 so far.

Why staking APR falls as more ETH is staked

Ethereum doesn’t pay a fixed interest rate. Each epoch (6.4 minutes) the protocol computes a base reward from a validator’s effective balance, a base reward factor of 64 and the square root of all active staked ETH. Rewards for attesting, proposing blocks and sync-committee duty are fixed fractions of it (weights 14, 26, 14, 2 and 8 out of 64). Add it all up over a year and total new issuance is roughly 166.3 × √(ETH staked) ETH, so the yield per staked ETH is about 166.3 ÷ √(ETH staked). It’s the same constant we use on the ETH supply page.

Checks: at 14 million ETH staked the formula gives about 1,704 ETH a day, in line with ethereum.org’s “approximately 1,700 ETH/day”. Today, at 43.76 million ETH and 99.7% participation, it gives 2.51%, the same as ultrasound.money’s issuance APR. The actual issuance over the last 30 days (1.084 million ETH a year) is about 1% below the formula, because of missed duties and penalties.

ETH staked (millions)Consensus APRTotal issuance (ETH a year)
57.44%371,858
105.26%525,887
203.72%743,716
303.04%910,863
43.76 (today)2.51%1,100,097
602.15%1,288,154
801.86%1,487,432
120 (all ETH)1.52%1,821,725

Doubling the amount staked cuts the rate per ETH by about 29% (1 ÷ √2) while total issuance rises about 41%. That is why the rate fell fastest in 2021, when staked ETH quadrupled, and why the 2026 rise from 35.6 million to 43.76 million ETH took the consensus rate from about 2.76% to 2.51%. We don’t attribute that rise to any single cause. As of October 20, 2026 the formula above is what mainnet uses.

Consensus rewards vs tips and MEV

Since the Merge (September 15, 2022), validators get two kinds of income: new ETH from the consensus layer, and execution-layer rewards (priority fees plus MEV, mostly through MEV-Boost). ultrasound.money’s current estimate for a 32 ETH validator is 2.51% from issuance, 0.05% from MEV and 0.04% from tips, so execution rewards are only about 3.5% of the total today.

There’s no free history of that split, so we estimate it. Lido’s stETH APR is net of a 10% fee, so dividing by 0.9 gives Lido’s gross rate. Subtracting our consensus formula leaves execution rewards minus Lido’s own drag (ETH waiting in its buffer or the activation queue earns nothing). Treat this as a rough indicator, not a measurement:

YearLido gross APR (avg, derived)Consensus formula (avg)Difference
2021 (stETH from Feb 1)6.32%7.07%−0.75 pts
20224.99%4.73%+0.26 pts
20234.85%3.60%+1.25 pts
20243.53%2.90%+0.63 pts
20253.13%2.80%+0.33 pts
2026 (to Oct 20)2.63%2.63%+0.00 pts

Before the Merge there were no execution rewards, and Lido’s gross rate ran about 0.75 points below the formula in 2021, which is roughly the size of its drag at the time. After the Merge the sign flipped: Lido’s gross rate averaged 1.25 points above the formula in 2023, the busiest full post-Merge year for gas (28.3 gwei typical, versus 16.7 gwei in 2024). By 2026 the difference is zero: tips and MEV shrank with record-low gas fees, and what was left roughly matched Lido’s drag. For live gas levels, see the ETH gas tracker.

Lido vs Rocket Pool vs solo vs exchange vs ETF: net of fees

All of these earn the same underlying network rate. What differs is who takes a cut, how much ETH sits idle and what risks you take on. Rates are as published on October 20, 2026 (ETF figures from the issuer on October 16).

OptionRate todayHow it’s publishedFee2025 resultNotes
Solo validator≈2.60% gross2.51% issuance + 0.05% MEV + 0.04% tips (ultrasound.money, Oct 20)None to a provider; hardware, power and your time≈2.8% formula average (consensus only)32 ETH minimum per validator; slashing and downtime risk is yours
Lido stETH2.22% APR7-day average of daily APR (Lido API)10% of rewards2.85% (on-chain share rate)Any amount; stETH can trade below ETH in stress; smart-contract and governance risk
Rocket Pool rETH1.89% APRrETH APR from the Rocket Pool API (our Sept on-chain figure: 2.16%)14% (5% node operators + 9% RPL voter share)2.59% (on-chain exchange rate)0.01 ETH minimum; exit through the deposit pool or a DEX
Coinbase (standard)1.64% APY“Estimated reward rate” on Coinbase’s ETH staking page35% standard (25.25%–31.75% for Coinbase One tiers)Not published as a historyCustodial; Coinbase does not guarantee rewards
Staking ETF (example: Grayscale Mini ETH)≈1.84% derived2.46% net on staked ETH × 80.9% staked, minus the 0.15% sponsor fee (Oct 16)6% of gross rewards kept by the sponsor and providers, plus the fund feeNot shown (fund staking is recent; see the ETF page)Brokerage account, no keys; part of the fund stays unstaked for redemptions

Coinbase’s 1.64% is consistent with the network rate after its 35% standard commission (2.51% × 0.65 ≈ 1.63%). For fees, unstaking times and custody risks in detail, read Lido vs Rocket Pool vs Coinbase staking; to compare your own numbers, use the staking comparator; and for which ETFs stake and how much they keep, see spot Ethereum ETFs compared. New to the topic? Start with what is Ethereum staking.

Real yield: staking vs ETH supply inflation

New ETH paid to stakers grows the total supply, partly offset by the fee burn. If you don’t stake, your share of all ETH shrinks by the supply growth rate; if you do, it grows by roughly the difference.

YearstETH returnETH supply growthStaker’s share of all ETH
20224.58%+2.09%+2.44%
20234.45%−0.29%+4.75%
20243.23%+0.24%+2.98%
20252.85%+0.72%+2.11%
2026 (to Oct 20)1.92%+0.66%+1.25%

2022 supply growth includes eight and a half months of proof-of-work issuance to miners, and 2023 was the one year supply shrank (−0.29%), so stakers gained more than their headline rate in share terms. Supply is growing about 0.86% a year now (ultrasound.money, 30 days), so a 2.2% staking rate is roughly a 1.3% gain in share of all ETH. Supply data by year is on our Ethereum supply and inflation page. A bigger share of a coin can still lose dollar value; see the ETH drawdown history.

ETH staking calculators

The first projects rewards at today’s dated rates, with an optional “what if more ETH is staked” input. The second shows what stETH or rETH really earned from any month to October 20, 2026. For example, 10 stETH held from January 1, 2023 grew to 11.30 stETH (+13.03%, about 3.27% a year), and 10 ETH put into rETH on the same day is now worth 11.15 ETH (+11.51%). To turn a yield into an income target, try how much ETH do I need to retire.

Staking rewards calculator (today’s rates)

7-day average APR from the Lido API, net of Lido’s 10% fee. Rates as of October 20, 2026 (ETF: October 16).

Rate used2.22%
ETH after 5 years11.1604
Rewards+1.1604 ETH≈ $2,768 at your price
Your share of all ETH+6.9%after 0.86%/yr supply growth

Compounds once a year. If network-wide staked ETH differs from today’s 43.76 million, the rate is scaled by √(43.76 ÷ your figure), because consensus rewards per ETH fall with the square root of the amount staked (an approximation: tips and MEV don’t follow that rule). Rates change daily and are not guaranteed.

What liquid staking actually earned (on-chain backtest)

10.0000 ETH → 11.3026 ETH by October 20, 2026: +13.03% in ETH terms, about 3.27% a year compounded.

Uses the token’s on-chain exchange rate (stETH: ETH per share; rETH: ETH per rETH) at the first block of the month and on October 20, 2026, so fees are already deducted. It ignores gas, any discount when selling the token, and the ETH price, which matters far more in dollar terms.

Download the data

License: Our measurements and the tables, chart and CSVs on this page are licensed under Creative Commons Attribution 4.0 International (CC BY 4.0). Reuse them for any purpose, including commercially, with credit (“GrowYourEthereum, Ethereum Staking APR History, CC BY 4.0”) and a link. Staked ETH, validator counts and participation come from beaconcha.in, and their terms apply to that feed.

Cite this data

Free to reuse in articles, research, reports and apps under CC BY 4.0. Copy a ready-made citation below; the HTML version includes the credit link the license asks for.

Plain text (APA style)
GrowYourEthereum. (2026). Ethereum Staking APR History (stETH, rETH and network rate) [Data set]. Updated October 20, 2026. https://growyourethereum.com/data/ethereum-staking-apr-history. Licensed CC BY 4.0.
HTML with credit link
<a href="https://growyourethereum.com/data/ethereum-staking-apr-history">Ethereum Staking APR History (stETH, rETH and network rate)</a> by GrowYourEthereum, licensed under <a href="https://creativecommons.org/licenses/by/4.0/">CC BY 4.0</a>.
BibTeX
@misc{growyourethereum_ethereum_staking_apr_history_2026,
  author       = {{GrowYourEthereum}},
  title        = {Ethereum Staking APR History (stETH, rETH and network rate)},
  year         = {2026},
  howpublished = {\url{https://growyourethereum.com/data/ethereum-staking-apr-history}},
  note         = {Data set, updated October 20, 2026. CC BY 4.0}
}

More datasets, JSON files and embeddable widgets: free Ethereum data for journalists, researchers and builders.

Methodology

  • stETH and rETH (measured): on October 20, 2026 we called Lido’s stETH contract (0xae7ab965…fE84, getPooledEthByShares(1e18)) and Rocket Pool’s rETH contract (0xae78736C…6393, getExchangeRate()) at the first block on or after 00:00 UTC on the 1st of every month from January 2021, plus October 20, 2026, through a public archive RPC. A month’s APR is (end rate ÷ start rate − 1) × 365 days ÷ the exact time between the two blocks. Both rates are net of fees, because fees are taken before rewards reach the token.
  • Cross-checks: our October 1–20, 2026 stETH figure (2.23%) matches the Lido API’s 7-day average (2.22%). January 2021 is excluded for stETH (its share rate was still exactly 1.0 on January 1) and October 2021 for rETH (its rate was 1.0 on October 1).
  • Consensus-layer APR (derived): 166.3 ÷ √(the month’s average staked ETH) × the month’s average participation rate. 166.3 comes from the spec: 64 × √(10⁹) gwei × 82,181 epochs a year ÷ 10⁹ ≈ 2,024 × 82,181 ÷ 10⁶. It excludes tips and MEV and slightly overstates actual issuance (about 1% today).
  • Staked ETH, validators, participation: beaconcha.in daily charts (December 1, 2020 – October 18, 2026). Its 43,759,791 ETH on October 18 matched ultrasound.money’s effective-balance sum (43,762,949 ETH on October 20) within 0.01%. Supply growth is from our ultrasound.money-based supply dataset.
  • Limits: monthly sampling smooths out daily swings; Lido’s gross rate assumes its 10% fee for the whole period; Rocket Pool’s commission settings changed over time; providers’ own published APRs use different windows (7-day, 30-day) and won’t match a calendar month exactly.

Ethereum staking APR history FAQ

What is the current ETH staking APR?

About 2.2% to 2.6% a year as of October 20, 2026. Lido’s stETH paid 2.22% APR (7-day average, after its 10% fee), Rocket Pool’s API showed 1.89% for rETH, and Coinbase showed an estimated 1.64% APY for standard customers. A solo validator earns the network rate before costs: about 2.51% from new issuance plus roughly 0.09% from tips and MEV, according to ultrasound.money.

What was the ETH staking APR in 2021, 2022, 2023, 2024 and 2025?

Measured from stETH’s on-chain share rate, holding stETH earned 5.33% from February 1 to December 31, 2021 (5.84% annualized), 4.58% in 2022, 4.45% in 2023, 3.23% in 2024 and 2.85% in 2025, after Lido’s fee. rETH earned 4.28%, 3.92%, 2.81% and 2.59% in 2022–2025. In 2026 to October 20, stETH is up 1.92% (2.40% annualized) and rETH 1.75% (2.19% annualized).

Why has Ethereum staking yield gone down?

Mostly because far more ETH is staked. Total issuance to validators grows only with the square root of the ETH staked, so the reward per ETH falls as 1 divided by the square root of the total. Staked ETH rose from about 2 million in January 2021 to 43.76 million in October 2026, which by itself cuts the consensus rate from about 11.6% to 2.5%. Tips and MEV, which added to yields after the Merge, also shrank as gas fees fell to record lows in 2025–2026.

How is the Ethereum staking reward rate calculated?

The protocol sets a base reward from each validator’s effective balance, a base reward factor of 64 and the square root of all active staked ETH. Summed over a year, that gives total issuance of roughly 166.3 × √(staked ETH) ETH at full participation, so the rate per ETH is about 166.3 ÷ √(staked ETH). With 43.76 million ETH staked that is 2.51%, which matches ultrasound.money’s 2.51% issuance APR. Tips and MEV come on top and vary with network demand.

What is the difference between staking APR and APY?

APR is the simple yearly rate; APY includes compounding. Lido and Rocket Pool publish APR, and their tokens compound automatically because rewards stay in the token. At today’s rates the gap is tiny: 2.22% APR compounded daily is about 2.24% APY. Coinbase quotes APY. Over a full year, the realized returns in our yearly table already include compounding.

Has Lido or Rocket Pool paid more historically?

Lido’s stETH paid more than Rocket Pool’s rETH in every full calendar year we measured: 4.58% vs 4.28% in 2022, 4.45% vs 3.92% in 2023, 3.23% vs 2.81% in 2024 and 2.85% vs 2.59% in 2025. Rocket Pool’s commission is higher (14% today versus Lido’s 10%), and ETH waiting in its deposit pool earns nothing. A few single months went the other way, such as November 2022 and January 2026.

How much ETH is staked right now?

About 43.76 million ETH on October 20, 2026: ultrasound.money’s effective-balance sum was 43,762,949 ETH and beaconcha.in showed 43,759,791 ETH on October 18. That is about 35.8% of the 122.15 million ETH supply. It was 35.6 million at the start of 2026, 28.9 million at the start of 2024 and 15.8 million at the start of 2023.

Does ETH staking beat inflation?

In ETH terms, yes so far. ETH supply grew 0.72% in 2025 and is growing about 0.86% a year now (ultrasound.money, 30 days), while stETH earned 2.85% in 2025 and about 2.4% annualized in 2026. Stakers’ share of all ETH therefore rises about 1.5% to 2% a year, and holders who don’t stake are diluted by the supply growth. None of this protects you from changes in ETH’s dollar price.

What happens to the staking APR if more ETH is staked?

It keeps falling, but slowly. Using 166.3 ÷ √(staked ETH), the consensus rate would be about 2.15% at 60 million ETH staked, 1.86% at 80 million and 1.52% if all 120 million or so ETH were staked. Every doubling of the stake cuts the rate per ETH by about 29%.

Did the Merge increase staking rewards?

Yes. From September 15, 2022 validators also received priority fees (tips) and MEV, which used to go to miners. stETH’s monthly APR rose from 3.92% in August 2022 to 5.40% in October 2022. In our data, Lido’s gross rate (its APR before the 10% fee) averaged 1.25 percentage points above the consensus formula in 2023, but the gap was gone by 2026 as gas fees collapsed.

Are staking rewards guaranteed?

No. Rates change daily with the amount staked, validator performance and network demand. Validators can be penalised or slashed, liquid staking tokens can trade below ETH, and custodial platforms can change terms. Past APRs on this page describe what happened, not what will happen.

Sources

Educational data page. Not financial advice. GrowYourEthereum is independent and not affiliated with Lido, Rocket Pool, Coinbase, Grayscale, beaconcha.in, ultrasound.money or the Ethereum Foundation. Data to October 20, 2026, gathered October 20, 2026. Staking involves slashing, smart-contract, custody and price risk. This page and its CSVs: CC BY 4.0.