The queue for validators exiting the staking of the second-largest cryptocurrency by market capitalization has reached a record 2.4 million ETH, valued at over $10 billion.
Due to the sharp increase in requests, the waiting time for fund withdrawals has exceeded 41 days. This has raised concerns about potential pressure on the asset’s price, which has risen by 83% over the past year.
Meanwhile, Grayscale has joined the staking queue. The company has deposited 272,000 ETH worth $1.21 billion. According to analysts at EmberCN, the firm accounts for a significant portion of the coins awaiting activation.
灰度管理的两支 ETH 现货 ETF 在 4 小时前继续质押了 27.2 万枚 ETH ($12.1 亿)，他们从被允许质押以来一共把 30.4 万枚 ETH 存入了质押。
目前一共有 48.9 万枚 ETH 正在等待进入质押，也就是说现在等待质押生效的币灰度占了大部分。
不过与进入质押的相比，退出的 ETH 就多多了：目前一共有 242.7… https://t.co/160Fs6wSJP pic.twitter.com/JqKavI1UvM— 余烬 (@EmberCN) October 8, 2025
The withdrawal queue is approximately five times larger than the entry queue, which contains about 490,000 ETH with a waiting time of more than eight days. However, this does not threaten the network’s stability — over 1 million validators remain active, holding 35.6 million ETH, which constitutes 29.4% of the total supply.
Nexo analyst Ilya Kalchev commented to Cointelegraph that these figures reflect Ethereum’s transformation into a “profitable and institutionally recognized asset.” He noted that corporate and institutional entities already hold more than 10% of the total ether supply, and inflows into ETFs in October exceeded $620 million.
On October 7, Ethereum’s price reached $4700. Against this backdrop, analysts at XWIN Research suggested the asset could rise to $10,000.