Recently, Ethereum's performance has started to outperform Bitcoin. Last week, the U.S. Ethereum spot ETF saw a net inflow of $349 million, with BlackRock and Fidelity purchasing 100,000 Ethereum. The net inflow of funds into the Ethereum spot ETF in December also reached a new high.

If the market rises after Trump takes office on January 20, the gains for Ethereum may surpass those of Bitcoin, as its upward pressure is relatively smaller. Moreover, Ethereum is performing well in the field of decentralized applications, with a significant amount of infrastructure, especially BlackRock's RWA project, which is built on Ethereum. Therefore, BlackRock's investors are now one of the main buyers of the Ethereum spot ETF, and it is possible that their financial managers will continue to recommend the Ethereum spot ETF to clients.

Large companies like BlackRock, Fidelity, and Grayscale may submit applications for Ethereum staking ETFs in January. Additionally, in March, Ethereum will undergo the Prague upgrade, which will benefit projects like ETH, SUSHI, UNI, and others.

Thus, this is likely preparing for a rebound in 2025. I believe that Ethereum is likely to experience a wave of catch-up rally in January.