BlackRock's ETHB attracted $254 million in its first week. They likely bought around 110k-120k ETH, with over 100k ETH set to be staked. Right now, the amount of newly staked ETH doesn’t seem like much, but, if staking ETH continues to gain popularity (e.g., attracting tens of billions or even hundreds of billions in scale), and other institutions like Fidelity follow suit, then, the amount of staked ETH locked up will keep increasing, while the freely circulating ETH in the market will keep decreasing. In the short term, this will have almost no noticeable impact. But in the long term, it will gradually reduce the circulating supply of ETH in the market, easing selling pressure. Additionally, locking up more ETH will continue to enhance Ethereum’s security, preparing it to support trillions, or even tens of trillions, of dollars in value on-chain in the future.