Billions of dollars have poured into Restake protocol Ether.Fi following the approval of the Ether (ETH) ETF listing.

“I think there are questions about whether staking, especially liquidity staking, turns ETH into a security,” Silagadze said. “I think how it’s going to start is you’re going to have an ETH ETF that either contracts or runs its own infrastructure, and those nodes are compliant and censored and everything, but you’re going to be able to get good returns. “It’s just a matter of time because it’s so much more complex.”