Data from the 11th week of ETH spot ETF shows that although there is a big gap compared with the 10th week, the data is still impressive compared with the data before the 10th week. However, it can still be seen that American investors are entangled in the mentality of ETH. The buying sentiment during the market climax is lower than BTC, and the selling sentiment during the low tide is also lower than BTC.
In the 11th week, American investors reduced their net holdings by 11,370 ETH. Among them, Grayscale and Fidelity were the main sellers, with the former net selling 27,703 ETH and the latter selling 10,250 ETH. In the 10th week, the data showed a net increase of 33,188 ETH. This is probably because the impact of the war broke the mentality of investors who had just started to improve.
Also in the 11th week, the net purchasing power of the United States was 16,333 ETH, and BlackRock was the main buyer, reaching 22,992 ETH. The net purchasing power in the 11th week was 45.4% lower than that in the 10th week. Grayscale's total sell-off is 27,703 ETH, down 17% from the tenth week.
At present, all US spot ETF institutions have a net position of 2,743,493 ETH. Among them, Grayscale has a total of 2,035,872 ETH (1,644,639+391,233), and BlackRock holds 406,594 ETH. Starting from October 2, 2024, BlackRock's ETH holdings will exceed Grayscale's Mini ETF. Fidelity, ranked third, has 151,250 ETH, and Bitwise, ranked fourth, also holds more than 100,000 ETH.
The other four ETF institutions have a total holding of less than 50,000 ETH. The three ETF institutions in Hong Kong reduced their holdings by a total of 8 ETH in the eleventh week, which is the first change in the data in the past four weeks.
