The data for spot ETFs has been quite good in the past few days, especially with BTC data exploding again yesterday. Although BTC's price saw a temporary drop due to events in South Korea, the ETF market did not panic; instead, there was a surge in buying sentiment, which many investors did not expect. While #ETH may not be as strong as BTC, it is still maintaining a good level.
Yesterday was another day of net inflow, marking the fifth consecutive day of net inflow. BlackRock and Fidelity once again brought good purchasing power, with the two firms collectively buying 38,675 ETH. Aside from these two, among American ETF institutions, only Grayscale's $ETHE has data, which shows a sell-off of 12,367 ETH. I was thinking that if the data for ETHE was good today, the sell-off from Grayscale would probably be over, but it turned out to be another sell pressure of over 12,000 ETH.
Aside from these three, everything else is zero. This is normal since the main purchasing power is concentrated in BlackRock and Fidelity. It's not just ETH; #BTC is the same way, which is why I say we need to pay attention to the big three when applying for ETFs.
Especially with the sudden surge in ETH purchasing power last week, I always feel that there are financial managers driving this behind the scenes. As mentioned earlier, although there hasn't been a massive surge in purchasing power like with BTC, tens of thousands of purchases each day is not a small number, and it is mainly concentrated in BlackRock and Fidelity. I am also very curious about how financial managers promote this to their clients.
However, I feel that the spring for ETH may be approaching.
Data has been updated, address: https://docs.google.com/spreadsheets/d/1W7JJ8lMQiUUlBb9U-BvFoq2H-2o5CpUuPO4D_KK3Ubw/edit?usp=sharing
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