The current slow launch of Ethereum ETF staking may be due to this. In my previous tweet, I also emphasized that there are significant technical issues with ETF staking, namely that staking in and out of the Ethereum network is not always possible. Each 6.4-minute epoch (a unit of block time in Ethereum) can only allow a maximum of 8 nodes to enter and 16 nodes to exit, while each node can only stake 256 ETH and exit 512 ETH every 6.4 minutes, as shown in the following figure. Currently, with such low Ethereum activity, staking still requires a queue of 1 day and 20 hours, and exiting staking requires a queue of 1 hour and 29 minutes. However, in the past, a large number of nodes could only stake 256 ETH and exit 512 ETH. I have seen situations where people queue for more than 10 days during peak periods of entry and exit. For ETFs with such a huge capital scale, currently holding a total of 8 billion US dollars, which is 4 million ETH, if pledged, assuming the most extreme scenario of all entering or leaving at once, it would take 69 days and 34 days respectively to queue up. In fact, it doesn't matter to enter the queue, the key and most troublesome thing is to exit the queue, because ETFs are settled in T+1, which means as an investor, I sell today and have to deliver to my account tomorrow. It is absolutely impossible to wait in line to exit slowly, especially if there is a large-scale sale run by investors, which will require a longer queue. But this problem is not unsolvable. There are many ways to solve it to a certain extent, but there are also risks involved. For example, the most direct approach is not to use protoplast staking, but to directly use liquidity staking platforms such as Lido to achieve instant entry and exit. However, there are two problems. Firstly, third-party platforms like Lido will eat up 10% of the returns. Secondly, it violates the rules of ETF custody, that is, you move the ETH held by users and exchange it for another asset. It can also be achieved through the ETF custodian's advance payment method, which is similar to the principle of many cross chain bridges. Users need to wait for 7 days to withdraw from L2 to L1, but the cross chain bridge advances the funds to the user's account in advance. After 7 days, the user's money will be returned to the cross chain bridge. However, this premise requires the ETF to have sufficient capital reserves to cope with the advance payment of large-scale exits. In the upcoming Ethereum Pectra upgrade, there happens to be an EIP7251 that can partially solve this problem. I have already sent a detailed tweet analyzing it before, and I suggest reviewing the https:// (x.com)/jason_chen998/status/1871405362148155465? S=46&t=1coVZFj8V6fzIy6jlfOqnQ In short, EIP7251 can increase the limit of 32 ETH per node to 2048, which is equivalent to a 64 fold increase in the rate of entry and exit. Assuming that all funds in the ETF enter and exit simultaneously, the queue time is reduced from 69 days and 34 days to 1.08 days and 0.49 days, and the exit rate can be guaranteed within 1 day. So the staking of Ethereum ETFs has indeed encountered this tricky technical problem, but it is not completely impossible to solve.