Ethereum staking sees institutional return as validator exit queue collapses
Ethereum's staking activity has reversed, with the exit queue dropping to zero as institutional capital, including from BitMine and new ETFs, flows back into staking.Summary
Ethereum's staking flows have recently reversed, marked by the validator exit queue falling to zero ETH after peaking at 2.67 million ETH in mid-September, while the entry queue swelled to 1.3 million ETH, indicating renewed commitment from large holders.
A zero exit queue suggests that potential selling pressure from validators has been exhausted, signaling market comfort with locking capital long-term. This shift coincides with significant institutional activity, notably BitMine, the world's largest Ethereum treasury firm, which has staked 659,219 ETH. Furthermore, Grayscale's Ethereum Staking ETF began distributing staking rewards to investors on January 5th.
The Ethereum network currently has 975,088 active validators securing 35.67 million ETH, with Lido DAO maintaining the largest share of staked ETH at 22.08%. At the time of reporting, Ether was trading around $3,220.
(Source：The Block)