**[Opinion: Ethereum Staking Requires a 43-Day Wait, Not a Clear Bullish Signal; Empty Exit Queue Holds Greater Significance]** BlockBeats News, July 31 — Thomas Brunner, Head of Custody and Staking at Sygnum Bank, stated that the Ethereum validator entry queue has grown to approximately 2.5 million ETH, with new stakers needing to wait around 43 days to activate. However, this data cannot be simply interpreted as a bullish signal, as the backlog reflects both institutional demand and the impact of protocol mechanisms. Brunner pointed out that the Dencun upgrade will reduce the daily validator entry limit to approximately 57,600 ETH, while the Pectra upgrade does not increase this limit. Meanwhile, Pectra allows individual validators to hold up to 2,048 ETH and automatically compound rewards. Large operators are adding stakes to existing validators, and even adding just 1 ETH requires joining the same queue as new stakers. Therefore, the current backlog partly stems from the reconfiguration and compounding of existing stakes, rather than entirely from new ETH demand. In contrast, the empty exit queue provides a clearer signal. Brunner stated: "Almost no one is unstaking, which reflects genuine confidence; the entry queue measures both demand and infrastructure mechanisms." Currently, approximately 41.2 million ETH are staked, accounting for 33.8% of the circulating supply. He also noted that institutions have not stopped participating despite ETH's price weakness, as many institutions now view staking yields as an inherent attribute of ETH. However, validator addresses, deposit addresses, and withdrawal credentials can all be tracked, and privacy concerns remain the primary obstacle to institutions scaling up their staking activities. [Original Link]