Data on the ETH spot ETF did not change significantly last Friday. Although funding data showed net inflows, only Grayscale's Mini ETF actually saw small inflows. As of now, Grayscale's ETHE is still selling, with a total of 117 ETH sold, and other inflows are almost zero.
This is to be expected. Although the price and exchange rate of ETH have rebounded slightly, the current liquidity and market narrative have not improved, and a 50 basis point interest rate cut is not enough to change investor preferences. However, with the advancement of interest rate cuts in the future, the situation may gradually improve.
Judging from recent data, although purchasing power remains weak, the selling pressure is not obvious. Especially in the data of ETFs, except for the daily sell-off of ETHE, there are almost no signs of selling by other institutions. Additionally, BlackRock made three buys during the week, while Bitcoin made just one buy.
Of course, this does not mean that the outlook for ETH will be very optimistic, but at least there are no signs of further deterioration. The key now is the U.S. economy. As long as it does not fall into recession, there is still a chance.
