From the weekly data of the ETH spot ETF, although the data on Friday was quite good, it still cannot escape the fact that the ETH data dropped significantly in the eighteenth week. In the previous week, there was a fundamental change in American investors' total holdings of ETH, from a net inflow of 169,498 #BTC in the twelfth week, to a net reduction of 32,640 at present, while the net purchasing power of American investors only maintained at 5.5% of last week, indicating a significant retreat in investor sentiment towards ETH.
From the details, BlackRock had a net increase of 17,268 coins last week, ranking first, but notably, ranked second is VanEck, which had a small net increase but is at least in a state of increase. Other institutions either had net outflows or no changes in a week, making it the worst week since the election.
However, the data on Friday showed a significant increase again, which makes one cautious, and perhaps the FOMO sentiment for ETH might rise again. Speaking from my personal perspective, as mentioned during the Friday data, since top institutions like BlackRock are optimistic, there may be a need for #ETH somewhere, though I do not know where or when, but it is still worth observing.
In the past week, Grayscale's two funds had the most sell-offs, totaling 41,763 ETH, which is the highest weekly sell-off in the last 12 weeks. Currently, Grayscale still holds 1,921,182 ETH.
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