Staking has emerged as a distinct asset class, with total value locked (TVL) surpassing $500 billion across proof-of-stake networks like Ethereum and Solana. Staking yields vary, with Solana offering returns between 8% and 13%, while Ethereum experiences withdrawal queues lasting weeks. The market is driven by a diverse range of participants, including ETPs, digital currency vaults, and retail stakers, which is facilitating price discovery and the growth of secondary markets such as derivatives and insurance. This evolution mirrors the historical development of fixed income markets and provides diversification beyond traditional crypto price movements. As a result, staking is increasingly being integrated into institutional portfolios, highlighting its growing significance in the financial landscape.