Ethereum's validator queue has surpassed 400,000 ETH, reflecting increased institutional interest in staking. As of November 2025, the network faces a backlog with 1.5 million ETH waiting to enter staking and 2.45 million ETH in the exit queue. This surge in capital inflows indicates a growing confidence in Ethereum's security and economic model. Nasdaq-listed SharpLink holds 859,853 ETH, generating $100 million annually, while Bit Digital stakes 132,480 ETH with an 86.3% stake. The SEC's approval of Ethereum staking ETFs has further fueled institutional participation. However, concerns about centralization persist, as major exchanges like Coinbase control significant portions of staked ETH. The Pectra upgrade, allowing validator consolidation, raises risks of staking dominance, while native staking gains traction for its control and transparency benefits.