It could be argued that the utility of these liquid staking protocols would be reduced as the upgrade date approaches, the note said. The counterargument is that the utility of these protocols is not limited to only providing liquidity, but also acting as an intermediary for retail investors who would otherwise face a barrier of 32 ETH ($52,000) for staking, the note said.
Source: https://www.coindesk.com/tech/2023/02/09/jpmorgan-ethereums-shanghai-upgrade-to-raise-staking-toward-proof-of-stake-blockchain-average/?utm_medium=referral&utm_source=rss&utm_campaign=headlines