According to @lookonchain, the VanEck Ethereum ETN staked 12,600 ETH valued at approximately $37.9 million again today, indicating continued institutional staking activity; source: Lookonchain post on X dated Nov 27, 2025. The attribution of this staking to VanEck is based on Arkham Intelligence’s entity classification and transaction traces for the VanEck wallet cluster, which list the related movements; source: Arkham Intelligence entity page for VanEck at intel.arkm.com/explorer/entity/vaneck. Staked ETH participates in Ethereum consensus and can be withdrawn only after passing the validator exit process, which temporarily reduces immediate tradability until withdrawal completes; source: Ethereum.org Staking documentation.