Although the market is full of criticism for $ETH , the data cannot be faked. Next, I will analyze the ETF data and tell you why ETH is worth investing:
In the past few days, ETH's spot ETF data has performed well, while $BTC
's data is relatively sluggish. This may be due to two reasons:
1. $BTC has been rising since the ETF was expected, and it has been fluctuating upward from June 2023 until after the US election. The US media are reporting on BTC news, and even US stock companies have begun to use holding BTC to increase market value. This has led many investors to leave the market when prices fall back because of panic (FUD) and holiday factors in the market.
2. In contrast, ETH's trend has not been as good as BTC, so many investors have already begun to adjust their positions. Moreover, if the transfer of power on January 20 can drive the market up, ETH, which has been lagging behind, may have a larger increase because it is under relatively less pressure.
In addition, ETH has performed well in decentralized applications, and there are many infrastructure constructions, such as BlackRock's RWA project, which is based on ETH. Therefore, BlackRock's investors are one of the main buyers of ETH spot ETFs, and BlackRock's wealth managers may recommend ETH to clients.
According to the data, in the 23rd week, BlackRock and Fidelity both bought a lot of ETH, even if investors were selling BTC, they were buying ETH. Even Grayscale's $ETHE fund was a net inflow of funds. The overall increase in holdings in the United States increased by 14.5 times compared with the 22nd week, and the net purchasing power increased by 1.7 times.
Do you understand now? The data actually reflects the "trend" of the market. Ordinary people can only eat meat if they keep up with the "trend"! ETH is expected next year!