According to Odaily Planet Daily, on-chain data showed that on July 22, Grayscale, one of the first ETF issuers, sent 292,262 ETH worth more than $1 billion to the Coinbase Prime deposit wallet.
According to an article published by data provider iChaininfo on July 23, about 10% of the 292,000 ETH was transferred from the Coinbase hot wallet to the Grayscale Mini Trust or wallet "0xab3" after the transfer. The large-scale transfer indicates that Grayscale is preparing for the launch of its Ethereum spot ETF.