Wu said that QCP Capital issued a statement saying that the much-anticipated ETH spot ETF started trading last night, but the market did not fluctuate as much as expected. ETH volatility has declined in various term structures, and the premium of ETH to BTC volatility has finally reversed. Currently, the volatility of BTC one-week and two-week options trading is 1-3 points higher than ETH. The net inflow of the first day of trading was US$107 million, compared with BTC's US$655 million, mainly due to the outflow of US$484 million from ETHE. At present, ETH is still positively viewed, and it is expected that with the continued attention of institutions, the price trajectory of ETH may gradually approach its historical high.