I'm not an expert on Ethereum, but even if they did pick a total language, how would you deal with bounding the CPU cost of complex contracts? Even if you could formally verify a loop would eventually terminate, wouldn't long running loops or those with expensive computations have bad impacts on the network? Their "gas" system is their way of dealing with that and perhaps you would still need something similar even with a total language.
I can't think of program verification research where both termination and CPU cost is verified. I can think of some papers that deal with identifying Big Oh growth rates though.
Either way, smart contracts sound like one of the top tier areas where you want strong static typing that has a route to be formally verified.