If the staking function of BlackRock Ethereum ETF is approved, what will be the impact on the staking protocols such as LDO and SSV?

Let me first talk about the conclusion. The conclusion is neutral and slightly positive, and the differentiation pattern is emerging.

How to operate ~ For my LDO position, I will choose to sell out the positives after the approval, reduce the position, and then take it back after the callback.

Below is a brief talk about my personal opinion, which is only a personal trading diary and does not make any investment advice!

For LDO: LDO occupies 27% of the market share of the staking sector. If the ETF staking function is approved, it will inevitably divert some users. LDO faces user diversion pressure in the short term, but will benefit from the expansion of the entire market in the long run. Therefore, in order to cope with the competition from ETFs, Lido needs to consolidate its advantages through technology upgrades (such as DVT integrated with SSV) and governance optimization. If Lido can maintain its income advantage and improve the degree of decentralization, its market position may be further strengthened in the future.

For SSV: If BlackRock ETF adopts DVT technology, it will directly benefit SSV. Even if ETFs are not adopted, SSV, as the infrastructure for decentralized staking, may gain more attention amid industry concerns about centralized risks. In addition, SSV's cooperation with protocols such as Lido may form a synergistic effect and drive the growth of its token value.

Overall, the impact of BlackRock's ETF is not a one-way negative or positive, but rather a differentiation of the staking sector: users who focus on returns and liquidity stay in Lido, users who pursue compliance and convenience may turn to ETFs, and technology-driven decentralized demand drives the development of protocols such as SSV#ETH突破3600 #LDO #RPL #SSV