The data for the nineteenth week of the ETH spot ETF is still quite good. In fact, without the large purchases last Friday, the data for week nineteen would have been even worse. But I really don’t know why there was such a large amount of buying last Friday. It is clear that BlackRock, Fidelity, and even Grayscale have significant holdings. It’s hard not to think that wealth managers are selling ETH to their clients. What the reasons and justifications for this selling might be remain unknown.
In the past week, the net buying power of American investors has been incomparable to the eighteenth week, second only to the FOMO levels brought by the U.S. elections in the seventeenth week. Currently, Grayscale's two funds hold a total of 1,920,448 ETH, of which $ETHE holds 1,494,331 ETH, ranking first. BlackRock holds 695,247 ETH, ranking second. The third is Grayscale's Mini ETF, followed by Fidelity and Bitwise, while the holdings of other institutions are too low.
Overall, the data for week nineteen was driven very strongly by last Friday. However, whether this can be sustained is still uncertain. From the price trend of #Ethereum, it is currently relatively stable. I still believe that if the price of ETH does not experience a breakout, then the altcoin season for ALT is expected to be even harder to come by.
This tweet is sponsored by @ApeXProtocolCN | Dex With ApeX
