Bhutan Goes All-In on Ethereum: $970K Staked After Digital ID Launch

Bhutan is now using Ethereum for both money and identity. The kingdom has staked about 970,000 dollars in ETH after launching a national digital ID system on the same network in October 2025. 

Bhutan Stakes $970K in Ethereum

The Royal Government of Bhutan has staked 320 ETH worth about 970,000 dollars, on-chain data from Arkham shows. The funds moved from a wallet labeled “Royal Government of Bhutan” to a Figment Ethereum staking address.

Bhutan ETH Transfer. Source: Arkham / X

In addition, Arkham’s dashboard indicates the same wallet still holds roughly 1.02 million dollars in Ethereum that remains unstaked. This balance could be sent to staking contracts in future transactions if the government chooses.

Bhutan’s crypto portfolio is managed through its state investment arm, Druk Holding and Investments, which also holds Bitcoin and other digital assets.

Bhutan Anchors National Digital ID System on Ethereum

On Oct. 13, 2025, Bhutan launched its national digital identity system on the Ethereum blockchain, becoming the first country to do so. Aya Miyaguchi, the CEO of the Ethereum Foundation,  said she attended the ceremony with Vitalik Buterin on behalf of the Ethereum community, alongside His Royal Highness.

Bhutan Digital ID Launch On Ethereum. Source: Aya Miyaguchi On X

Miyaguchi recalled her first visit to Bhutan in May 2024, saying the project reflects shared values around building long-term systems with clear principles. She described the launch as a step toward giving citizens self-sovereign control over their credentials.

She added that the rollout comes during Ethereum’s 10th year, linking the platform’s early concepts to concrete government use. According to Miyaguchi, the digital ID system is already live on Ethereum, with the migration of all credentials scheduled for completion by the first quarter of 2026.

Ethereum Bounces Off Daily Support Near $3,000 

Meanwhile, On Nov. 27, 2025, Ethereum (ETH) rebounded from a daily support zone around 3,000 dollars, the TradingView chart shows. First, price dropped into the green demand band drawn near late-August and mid-October lows. This zone held before, and again absorbed selling pressure during the latest slide.

Ethereum Daily Support Bounce. Source: TradingView / X

After the retest, ETH printed a fast recovery candle, lifting price toward 3,071 dollars by 13:53 UTC+1 on Bybit’s ETH/USDT pair. Because the bounce climbed back over intraday lows, ETH preserved a constructive structure above the support floor. The 3,200-dollar area remains the next horizontal hurdle, based on prior crowding of wick rejections in early-November trade.

ETH’s swing lower arrived after a descending channel carried price down from September highs near 4,700 dollars. Still, the market avoided deeper mark-downs under 3,000 dollars, showing the zone operates as a liquidity pocket for bids. The daily RSI also cooled during the decline, resetting momentum from overheated levels seen in September, and therefore improving conditions for a relief move.

If ETH sustains closes above 3,071 dollars, the market has room to extend toward 3,200 dollars, the first sticky resistance above spot. A break of 3,200 would reopen the path into mid-3,000 supply. The wallet transfer image confirms no staking or buy addition tied to this bounce. Instead, it shows spot price rotation inside existing bands.