diff --git a/packages/cli/src/cmds/validator/keymanager/keystoreCache.ts b/packages/cli/src/cmds/validator/keymanager/keystoreCache.ts
new file mode 100644
index 000000000000..9ba1475ab78e
--- /dev/null
+++ b/packages/cli/src/cmds/validator/keymanager/keystoreCache.ts
@@ -0,0 +1,89 @@
+import fs from "node:fs";
+import bls from "@chainsafe/bls";
+import {Keystore} from "@chainsafe/bls-keystore";
+import {SignerLocal, SignerType} from "@lodestar/validator";
+import {fromHex, toHex} from "@lodestar/utils";
+import {PointFormat} from "@chainsafe/bls/types";
+import {lockFilepath, unlockFilepath} from "../../../util/lockfile.js";
+import {LocalKeystoreDefinition} from "./interface.js";
+
+export async function loadKeystoreCache(
+  cacheFilepath: string,
+  keystoreDefinitions: LocalKeystoreDefinition[]
+): Promise<SignerLocal[]> {
+  const keystores: Keystore[] = [];
+  const passwords: string[] = [];
+  for (const {keystorePath, password} of keystoreDefinitions) {
+    keystores.push(Keystore.parse(fs.readFileSync(keystorePath, "utf8")));
+    passwords.push(password);
+  }
+
+  if (keystores.length !== passwords.length) {
+    throw new Error(
+      `Number of keystores and passwords must be equal. keystores=${keystores.length}, passwords=${passwords.length}`
+    );
+  }
+
+  if (!fs.existsSync(cacheFilepath)) {
+    throw new Error(`Cache file ${cacheFilepath} does not exists.`);
+  }
+
+  lockFilepath(cacheFilepath);
+
+  const password = passwords.join("");
+  // We can't use Keystore.parse as it validates the `encrypted message` to be only 32 bytes.
+  const keystore = new Keystore(JSON.parse(fs.readFileSync(cacheFilepath, "utf8")));
+  const secretKeyConcatenatedBytes = await keystore.decrypt(password);
+
+  const result: SignerLocal[] = [];
+  for (const [index, k] of keystores.entries()) {
+    const secretKeyBytes = Uint8Array.prototype.slice.call(secretKeyConcatenatedBytes, index * 32, (index + 1) * 32);
+    const secretKey = bls.SecretKey.fromBytes(secretKeyBytes);
+    const publicKey = secretKey.toPublicKey().toBytes(PointFormat.compressed);
+
+    if (toHex(publicKey) !== toHex(fromHex(k.pubkey))) {
+      throw new Error(
+        `Keystore ${k.uuid} does not match the expected pubkey. expected=${toHex(fromHex(k.pubkey))}, found=${toHex(
+          publicKey
+        )}`
+      );
+    }
+
+    result.push({
+      type: SignerType.Local,
+      secretKey,
+    });
+  }
+
+  unlockFilepath(cacheFilepath);
+
+  return result;
+}
+
+export async function writeKeystoreCache(
+  cacheFilepath: string,
+  signers: SignerLocal[],
+  passwords: string[]
+): Promise<void> {
+  if (signers.length !== passwords.length) {
+    throw new Error(
+      `Number of signers and passwords must be equal. signers=${signers.length}, passwords=${passwords.length}`
+    );
+  }
+  const secretKeys = signers.map((s) => s.secretKey.toBytes());
+  const publicKeys = signers.map((s) => s.secretKey.toPublicKey().toBytes());
+  const password = passwords.join("");
+  const secretKeyConcatenatedBytes = Buffer.concat(secretKeys);
+  const publicConcatenatedBytes = Buffer.concat(publicKeys);
+  const keystore = await Keystore.create(password, secretKeyConcatenatedBytes, publicConcatenatedBytes, cacheFilepath);
+  lockFilepath(cacheFilepath);
+  fs.writeFileSync(cacheFilepath, keystore.stringify());
+  unlockFilepath(cacheFilepath);
+}
+
+export async function clearKeystoreCache(cacheFilepath: string): Promise<void> {
+  if (fs.existsSync(cacheFilepath)) {
+    unlockFilepath(cacheFilepath);
+    fs.unlinkSync(cacheFilepath);
+  }
+}
diff --git a/packages/cli/src/cmds/validator/keymanager/persistedKeys.ts b/packages/cli/src/cmds/validator/keymanager/persistedKeys.ts
index 22fa7a305c0d..a1133d57eff5 100644
--- a/packages/cli/src/cmds/validator/keymanager/persistedKeys.ts
+++ b/packages/cli/src/cmds/validator/keymanager/persistedKeys.ts
@@ -2,7 +2,7 @@ import fs from "node:fs";
 import path from "node:path";
 import bls from "@chainsafe/bls";
 import {Keystore} from "@chainsafe/bls-keystore";
-import {Signer, SignerType, ProposerConfig} from "@lodestar/validator";
+import {Signer, SignerType, ProposerConfig, SignerLocal} from "@lodestar/validator";
 import {DeletionStatus, ImportStatus, PubkeyHex, SignerDefinition} from "@lodestar/api/keymanager";
 import {
   getPubkeyHexFromKeystore,
@@ -14,6 +14,7 @@ import {
 } from "../../../util/index.js";
 import {lockFilepath} from "../../../util/lockfile.js";
 import {IPersistedKeysBackend} from "./interface.js";
+import {clearKeystoreCache, loadKeystoreCache, writeKeystoreCache} from "./keystoreCache.js";
 
 export {ImportStatus, DeletionStatus};
 
@@ -246,11 +247,32 @@ export class PersistedKeysBackend implements IPersistedKeysBackend {
   }
 }
 
+type KeystoreDecryptOptions = {
+  force?: boolean;
+  onDecrypt?: (index: number, signer: Signer) => void;
+  // Try to use the cache file if it exists
+  cacheFilePath?: string;
+};
+
 export async function decryptKeystoreDefinitions(
   keystoreDefinitions: LocalKeystoreDefinition[],
-  opts: {force?: boolean; onDecrypt?: (index: number, signer: Signer) => void}
+  opts: KeystoreDecryptOptions
 ): Promise<Signer[]> {
-  const signers: Signer[] = [];
+  if (opts.cacheFilePath) {
+    try {
+      const signers = await loadKeystoreCache(opts.cacheFilePath, keystoreDefinitions);
+      if (opts?.onDecrypt) {
+        opts?.onDecrypt(signers.length - 1, signers[signers.length - 1]);
+      }
+      return signers;
+    } catch {
+      // Some error loading the cache, ignore and invalidate cache
+      await clearKeystoreCache(opts.cacheFilePath);
+    }
+  }
+
+  const signers: SignerLocal[] = [];
+  const passwords: string[] = [];
 
   for (const [index, {keystorePath, password}] of keystoreDefinitions.entries()) {
     try {
@@ -281,18 +303,23 @@ export async function decryptKeystoreDefinitions(
     //
     const secretKeyBytes = await keystore.decrypt(password);
 
-    const signer: Signer = {
+    const signer: SignerLocal = {
       type: SignerType.Local,
       secretKey: bls.SecretKey.fromBytes(secretKeyBytes),
     };
 
     signers.push(signer);
+    passwords.push(password);
 
     if (opts?.onDecrypt) {
       opts?.onDecrypt(index, signer);
     }
   }
 
+  if (opts.cacheFilePath) {
+    await writeKeystoreCache(opts.cacheFilePath, signers, passwords);
+  }
+
   return signers;
 }
 
diff --git a/packages/cli/src/cmds/validator/signers/index.ts b/packages/cli/src/cmds/validator/signers/index.ts
index 658313d10ab0..9c9391ba9017 100644
--- a/packages/cli/src/cmds/validator/signers/index.ts
+++ b/packages/cli/src/cmds/validator/signers/index.ts
@@ -91,7 +91,11 @@ export async function getSignersFromArgs(
         );
       },
     });
-    return await decryptKeystoreDefinitions(keystoreDefinitions, {...args, onDecrypt: needle});
+    return decryptKeystoreDefinitions(keystoreDefinitions, {
+      ...args,
+      onDecrypt: needle,
+      cacheFilePath: `${args.importKeystores[0]}.cache`,
+    });
   }
 
   // Remote keys declared manually with --externalSignerPublicKeys
@@ -119,7 +123,11 @@ export async function getSignersFromArgs(
         );
       },
     });
-    const keystoreSigners = await decryptKeystoreDefinitions(keystoreDefinitions, {...args, onDecrypt: needle});
+    const keystoreSigners = await decryptKeystoreDefinitions(keystoreDefinitions, {
+      ...args,
+      onDecrypt: needle,
+      cacheFilePath: `${accountPaths.keystoresDir}.cache`,
+    });
 
     // Read local remote keys, imported via keymanager api
     const signerDefinitions = persistedKeysBackend.readAllRemoteKeys();
diff --git a/packages/cli/src/util/progress.ts b/packages/cli/src/util/progress.ts
index e284677d5a7e..52bd1117e266 100644
--- a/packages/cli/src/util/progress.ts
+++ b/packages/cli/src/util/progress.ts
@@ -16,6 +16,7 @@ export function showProgress({
   let current = 0;
   let last = 0;
   let lastProcessTime: number = Date.now();
+  let progressIntervalId: NodeJS.Timeout;
 
   const needle: NeedleFunc = (needle: number) => {
     // zero is considered first index in the range
@@ -34,21 +35,23 @@ export function showProgress({
       current,
       total,
       ratePerSec: processTime === 0 ? 0 : ((current - last) / processTime) * 1000,
-      percentage: (current / total) * 100,
+      percentage: current && total ? (current / total) * 100 : 100,
     });
 
     last = current;
     lastProcessTime = currentTime;
 
     if (current >= total) {
-      clearInterval(internalId);
+      clearInterval(progressIntervalId);
     }
   };
 
-  const internalId = setInterval(processProgress, frequencyMs);
+  if (total > 0) {
+    progressIntervalId = setInterval(processProgress, frequencyMs);
+  }
 
   signal.addEventListener("abort", () => {
-    clearInterval(internalId);
+    clearInterval(progressIntervalId);
   });
 
   return needle;
diff --git a/packages/cli/test/e2e/propserConfigfromKeymanager.test.ts b/packages/cli/test/e2e/propserConfigfromKeymanager.test.ts
index cae2c4b1755b..a22a0e484c3a 100644
--- a/packages/cli/test/e2e/propserConfigfromKeymanager.test.ts
+++ b/packages/cli/test/e2e/propserConfigfromKeymanager.test.ts
@@ -10,7 +10,7 @@ import {getKeymanagerTestRunner} from "../utils/keymanagerTestRunners.js";
 import {getKeystoresStr} from "../utils/keystores.js";
 
 describeCliTest("import keystores from api, test DefaultProposerConfig", function ({spawnCli}) {
-  const dataDir = path.join(testFilesDir, "import-keystores-test");
+  const dataDir = path.join(testFilesDir, "proposer-config-test");
 
   const defaultOptions = {
     suggestedFeeRecipient: "0x0000000000000000000000000000000000000000",
diff --git a/packages/cli/test/unit/cmds/validator/keymanager/keystoreCache.test.ts b/packages/cli/test/unit/cmds/validator/keymanager/keystoreCache.test.ts
new file mode 100644
index 000000000000..c27d64dcaf2b
--- /dev/null
+++ b/packages/cli/test/unit/cmds/validator/keymanager/keystoreCache.test.ts
@@ -0,0 +1,88 @@
+import fs from "node:fs";
+import {randomBytes} from "node:crypto";
+import tmp from "tmp";
+import {expect} from "chai";
+import chainAsPromised from "chai-as-promised";
+import chai from "chai";
+import {Keystore} from "@chainsafe/bls-keystore";
+import {interopSecretKey} from "@lodestar/state-transition";
+import bls from "@chainsafe/bls";
+import {SignerLocal, SignerType} from "@lodestar/validator";
+import {loadKeystoreCache, writeKeystoreCache} from "../../../../../src/cmds/validator/keymanager/keystoreCache.js";
+import {LocalKeystoreDefinition} from "../../../../../src/cmds/validator/keymanager/interface.js";
+
+chai.use(chainAsPromised);
+
+const numberOfSigners = 10;
+
+describe("keystoreCache", () => {
+  let definitions: LocalKeystoreDefinition[];
+  let signers: SignerLocal[];
+  let secretKeys: Uint8Array[];
+  let passwords: string[];
+  let keystoreCacheFile: string;
+
+  beforeEach(async function setup() {
+    this.timeout(50000);
+    definitions = [];
+    signers = [];
+    secretKeys = [];
+    passwords = [];
+    keystoreCacheFile = tmp.tmpNameSync({postfix: ".cache"});
+
+    for (let i = 0; i < numberOfSigners; i++) {
+      const secretKey = bls.SecretKey.fromBytes(interopSecretKey(i).toBytes());
+      const keystorePath = tmp.tmpNameSync({postfix: ".json"});
+      const password = secretKey.toHex();
+      const keystore = await Keystore.create(
+        password,
+        secretKey.toBytes(),
+        secretKey.toPublicKey().toBytes(),
+        keystorePath,
+        "test-keystore",
+        // To make the test efficient we use a low iteration count
+        {
+          function: "pbkdf2",
+          params: {dklen: 32, c: 10, prf: "hmac-sha256", salt: randomBytes(32).toString("hex")},
+        }
+      );
+      fs.writeFileSync(keystorePath, keystore.stringify());
+
+      signers.push({type: SignerType.Local, secretKey});
+
+      // Use secretkey hex as password
+      definitions.push({password: secretKey.toHex(), keystorePath});
+      passwords.push(password);
+      secretKeys.push(secretKey.toBytes());
+    }
+  });
+
+  describe("writeKeystoreCache", () => {
+    it("should write a valid keystore cache file", async () => {
+      await expect(writeKeystoreCache(keystoreCacheFile, signers, passwords)).to.fulfilled;
+      expect(fs.existsSync(keystoreCacheFile)).to.be.true;
+    });
+
+    it("should throw error if password length are not same as signers", async () => {
+      await expect(writeKeystoreCache(keystoreCacheFile, signers, [passwords[0]])).to.rejectedWith(
+        `Number of signers and passwords must be equal. signers=${numberOfSigners}, passwords=1`
+      );
+    });
+  });
+
+  describe("loadKeystoreCache", () => {
+    it("should load the valid keystore cache", async () => {
+      await writeKeystoreCache(keystoreCacheFile, signers, passwords);
+      const result = await loadKeystoreCache(keystoreCacheFile, definitions);
+
+      expect(result.map((r) => r.secretKey.toBytes())).to.eql(secretKeys);
+    });
+
+    it("should raise error for mismatch public key", async () => {
+      await writeKeystoreCache(keystoreCacheFile, signers, passwords);
+      definitions[0].keystorePath = definitions[1].keystorePath;
+
+      await expect(loadKeystoreCache(keystoreCacheFile, definitions)).to.rejected;
+    });
+  });
+});
diff --git a/packages/cli/test/unit/util/progress.test.ts b/packages/cli/test/unit/util/progress.test.ts
index bddb75c28f78..6646152a8558 100644
--- a/packages/cli/test/unit/util/progress.test.ts
+++ b/packages/cli/test/unit/util/progress.test.ts
@@ -53,6 +53,26 @@ describe("progress", () => {
       expect(progress.secondCall.args[0]).to.eql({total, current: total, ratePerSec: 0, percentage: 100});
     });
 
+    it("should call progress with correct values directly reaches to total", () => {
+      const progress = sandbox.spy();
+      const frequencyMs = 50;
+      const total = 8;
+      const needle = showProgress({total, signal: new AbortController().signal, frequencyMs, progress});
+      needle(7);
+
+      expect(progress).to.be.calledOnce;
+      expect(progress.firstCall.args[0]).to.eql({total, current: total, ratePerSec: 0, percentage: 100});
+    });
+
+    it("should not call progress when initiated with zero total", () => {
+      const progress = sandbox.spy();
+      const frequencyMs = 50;
+      const total = 0;
+      showProgress({total, signal: new AbortController().signal, frequencyMs, progress});
+
+      expect(progress).to.be.not.be.called;
+    });
+
     it("should not call progress further when abort signal is called", () => {
       const progress = sandbox.spy();
       const frequencyMs = 50;