Ethereum Exit Queue Surges to 2.656M ETH ($11.95B) as Kiln Exits 1.6M ETH Following SwissBorg Hack

According to the on-chain monitor validatorqueue, the Ethereum PoS network currently shows an exit queue of approximately 2.656 million ETH (roughly $11.95 billion) with a reported wait time near 46 days and 3 hours. The platform also lists an admission queue of about 725,000 ETH (around $2.47 billion), carrying an estimated delay of 12 days and 14 hours, reflecting elevated onboarding and offboarding pressure on the staking layer.

Validator operator Kiln has been identified as the primary driver of the recent uptick in the exit queue, having previously staked roughly 1.6 million ETH. Kiln reported on September 10 that it initiated an orderly exit of its validator nodes following the SwissBorg incident to protect staked funds; the firm indicated much of the withdrawn ETH is expected to be re-staked under new validator keys rather than sold. These developments are consistent with reported on-chain data and operator disclosures.