In a new report from CryptoQuant, analyst BK revealed a notable market dynamic: More than 800,000 ether (ETH) were removed from the cryptocurrency as the Ethereum Spot ETF is about to receive listing authorization from the U.S. Securities and Exchange Commission (SEC). Exchange transfers to external wallets worth up to $3 billion.

This flow dynamic is generally viewed as a positive sign for the market, as it suggests that investors tend to hold Ethereum for the long term rather than trading it in the short term.

We can conduct a more in-depth analysis of this phenomenon from several levels.

First, given that small retail investors are unlikely to make such large-scale asset transfers, this behavior is likely to be driven by large individual investors or cryptocurrency investment institutions. They may be optimistic about the future price performance of Ethereum and therefore choose to transfer it from the exchange to a more secure external wallet for long-term holding.

In addition, the issuing company of the Ethereum spot ETF may also be involved in this fund transfer process. In order to prepare for the upcoming ETF issuance, these companies need to purchase a certain amount of ether coins in the market as reserves. Therefore, they may purchase and transfer these ether coins to custodial wallets in advance before the ETF is officially approved by the SEC to ensure that the ETF can be issued and operated smoothly.

This behavior will directly lead to a reduction in the supply of Ethereum on the market, which may trigger a price increase. In fact, this pattern is very similar to the market trend after the Bitcoin spot ETF was launched earlier this year. At that time, Bitcoin prices experienced significant increases due to a reduction in Bitcoin supply and increased investor confidence. Therefore, there is reason to expect that Ethereum can also replicate this rise after the spot ETF is listed.

In general, the news that the Ethereum spot ETF is about to obtain SEC listing permission has triggered a positive reaction from the market, with investors and institutions taking action to transfer Ethereum from exchanges to external wallets to hold it for the long term and be optimistic about its future. price performance. At the same time, preparations by ETF issuing companies have further reduced the supply of Ethereum, creating conditions for price increases. #ETH #5月非农数据即将公布 #现货以太坊ETF获美SEC批准