The ETH spot ETF has already gone through its seventh week, but the situation presented by the data shows no signs of improvement. Grayscale's selling had gradually decreased in the first six weeks, but it increased nearly three times in the seventh week, while the net purchasing power decreased by 24%. In layman's terms, the selling of ETH has increased, but the purchasing power has not increased accordingly, but has decreased.
Except for Grayscale, only two of the seven funds in the United States have net inflows of funds. One is BlackRock, which has inflows of 2,099 ETH; the other is Fidelity, which has inflows of 2,000 ETH, and the inflows of the remaining funds are all zero. In the sixth week, this data is a net inflow of 5,397 ETH.
However, compared with the sixth week, it is not without advantages. In the sixth week, the US ETFs, except for Grayscale, had a total outflow of 1,386 ETH, and in the seventh week, this data became zero. On the bright side, the selling by non-Grayscale users has been significantly reduced.
So far, Grayscale's net outflow has reached 919,223 ETH, while the net outflow of nine ETH spot ETFs in the United States is 320,355 ETH. These 320,000 ETH have actually become selling pressure in the market. Grayscale has sold 33.18% of its total stock. Judging from the data, Grayscale's selling seems to have indeed entered a low period, but for some reason, there was a sudden increase in selling in the seventh week, and in fact, the same is true for BTC.
The ETH spot ETF in the United States currently holds a total of 2,746,381 ETH, and the three funds in Hong Kong hold 14,483 ETH. In the seventh week, Hong Kong fund data showed that a total of 66 ETH were sold.
