Ethereum (ETH) Tokenomics, Unlock Schedule and Vesting Chart

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Ethereum (ETH) Token Unlock & Vesting Schedule

As of October 16, 2026, 119.1 million ETH have been released. The schedule is ongoing, with no final release date.

The chart shows gross modeled releases of every allocation: vesting unlocks, new issuance and reserve distributions, each allocation counted once. These have different meanings; a scheduled release is not evidence that tokens entered circulation or were sold. Review the coverage, sources and assumptions below.

Each color segment in the chart corresponds to a specific allocation group described in the Allocations section below. Underlying assumptions and data models used to reconstruct this schedule are explained in detail under Assumptions, while broader utility insights and token use cases are covered in Tokenomics & Utility.

Tokenomics & Utility

ETH has three central roles. It pays for transactions, provides the stake used by validators, and can be transferred between people or used within applications. A person using a decentralized exchange, for example, may hold tokens issued by an application but still need ETH to pay for a transaction on Ethereum’s main network. These linked roles connect demand for the network’s services with use of its native asset. (ethereum.org)

Ethereum began with ETH distributed through its early sale and project allocations. Since launch, the protocol has also issued new ETH to participants who secure the network. Today, proof-of-stake rewards create new ETH, while the base portion of transaction fees is burned. The balance between issuance and burning determines whether the total supply rises or falls over a given period. Ethereum has no fixed maximum supply set by its protocol. Its economic model therefore depends on network rules and activity rather than a permanent supply cap. (ethereum.org)

ETH also differs from tokens created on Ethereum. A developer can issue a token through a smart contract, but that token has its own rules and purpose. ETH is built into the Ethereum protocol itself. Staking ETH helps validators participate in consensus; holding an application’s token does not serve that same protocol role. (ethereum.org)

Assumptions

Ethereum began with a 72,009,990.5 ETH genesis mint, including sale purchasers and two documented endowment pools. Mining then issued ETH through three successive block-subsidy rates until September 15, 2022; validator rewards began in December 2020 and continue without a fixed end. The chart can date genesis and calculate canonical mining subsidies, although their monthly placement is estimated. Mining's additional ommer rewards, variable validator issuance, and payments from the subsequently expanded Olympic prize fund cannot be reliably placed into months from the cited evidence.

PoW block rewards: New issuance depends on network activity, such as staking, so it cannot be dated in advance.
PoS validator rewards: New issuance depends on network activity, such as staking, so it cannot be dated in advance.
Olympic testnet rewards: original prize fund: The original schedule was changed and the new timing is not yet published.

Sources (15)

Total Supply N/A

Unlocked Supply 119.10M

Unlock Progress —

Genesis Date Jul 30, 2015

Fully Unlocked Ongoing

Allocations 7

Marketcap Rank (#) 2

Price ($) 2,432 -2.32% (7d)

24h Volume ($) 682M +59.03% (7d)

Marketcap ($) 298B

Fully Diluted Value ($) N/A

Circulating Supply N/A

Perpetuals: 7 markets on Binance, OKX, Hyperliquid and Lighter · $13.09B open interest

Spot

Perp


ETH/USDT	1.1B	16M/11M
ETH/USDT	505M	7.3M/8.1M
ETH/USDT	353M	10M/8.2M
ETH/USDC	344M	1.6M/2.2M
ETH/USD	319M	8.6M/11M
ETH/USDT	313M	2.1M/3.5M
ETH/USDT	297M	2.7M/3.5M
ETH/USDT	242M	9.2M/5.5M
ETH/USD1	190M	195K/176K
ETH/USDT	175M	2.7M/2.6M
ETH/USD	123M	13M/14M
ETH/USDT	63M	5.7M/8.6M
ETH/USDC	45M	387K/527K
ETH/USDC	41M	4.2M/3.9M
ETH/BTC	28M	3M/4.1M
ETH/EUR	26M	6.6M/7.1M
ETH/FDUSD	25M	416K/407K
ETH/U	16M	537K/495K
ETH/USDC	14M	832K/755K
ETH/USDC	12M	470K/347K
ETH/EUR	11M	1.1M/1M
ETH/BTC	11M	1.8M/1.4M
ETH/JPY	9.3M	293K/199K
ETH/EUR	8.5M	561K/583K

Allocations

Genesis issuance

72,009,990.5 tokens · 3 parts

Cliff: Jul 30, 2015 — 100.00% of allocation · 72,009,990.5 tokens

Sources: Ether Total Supply and Market Capitalization ChartEthereum Launches

PoW block rewards

Ongoing issuance

Protocol issuance: Block-height based · 21,849,995 tokens

Protocol issuance: Block-height based · 8,730,000 tokens

Protocol issuance: 16,514,788 tokens

Timing not yet established (Jul 30, 2015 - Sep 15, 2022): 3,139,986.13 tokens

Timing not yet established (Jul 30, 2015 - Sep 15, 2022): amount unknown

Sources: Ethereum Block 1Ethereum Block 4,370,000Timeline of all Ethereum forksEIP-649: Metropolis Difficulty Bomb Delay and Block Reward ReductionEIP-1234: Constantinople Difficulty Bomb Delay and Block Reward AdjustmentEthereum Block 15,537,393How The Merge impacted ETH supplyEther Total Supply and Market Capitalization Chart

PoS validator rewards

N/A tokens

Timing not yet established (Dec 1, 2020 - Sep 14, 2022): amount unknown

Timing not yet established (Sep 15, 2022 - open): amount unknown

Sources: The Beacon ChainHow The Merge impacted ETH supplyEIP-2982: Serenity Phase 0Ether Total Supply and Market Capitalization Chart

Olympic testnet rewards: original prize fund

25,000 tokens

Timing not yet established (Aug 26, 2015 - open): amount unknown

Sources: Olympic: Frontier Pre-ReleaseOlympic Rewards Announced

Last Updated: 2026-09-26 22:43:51 UTC

Description

#2

Ethereum is a technology that enables digital money, global payments, and decentralized applications. It is powered by a network of computers that run on a blockchain, a distributed ledger that records transactions and ensures security and transparency

Sector:	Layer 1
Blockchain:	Ethereum

2015

POS