It is likely that everyone is aware of the staking possibilities for cryptocurrency spot ETFs. There have been various approvals in the past, but none have truly materialized until now. This morning, a tweet from Bessenet has effectively opened the green light for staking in cryptocurrency spot ETFs.

Starting today, all compliant cryptocurrency spot ETFs such as $BTC, $ETH, and $SOL can be staked by fund managers, and the earnings can be legally distributed to investors. This is a positive development, and I believe it won't be long before institutions announce that they will start with ETH and SOL.

However, is this good news for existing staking DeFi projects? Personally, I think it is not only not good news, but rather bad news. This is because the staking institutions need to be executed by entities that are "licensed, regulated, and have custody capabilities." ETF institutions cannot just randomly choose nodes. All staking must occur within the framework of traditional financial regulation.

Currently, capable entities include Coinbase Custody, BitGo Trust, or compliant banks with regulatory mechanisms. For on-chain DeFi protocols, without a complete KYC and AML system, it is simply out of the question. Therefore, when traditional institutions enter the staking space, they will inevitably share DeFi users. If it were me, I would also choose a regulated institution; the current on-chain DeFi environment is too risky.

Can you imagine BlackRock staking over 1 million $ETH on an unregulated on-chain protocol?

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