On Monday, the data for spot ETFs remained very strong, with both BTC and ETH performing remarkably well. BTC's data will come a bit later, so let's first look at ETH. In the past 24 hours, American investors have increased their holdings by over 34,000 #ETH, marking the highest single-day increase for American investors since Christmas.

Of course, the main buying power still comes from BlackRock, which increased its holdings by 33,672 ETH. By the way, from the fund data, BlackRock's investment in ETH accounts for over 50% of the funds for #BTC, and the largest buying power for $BTC in the past two days has come from Fidelity. However, Fidelity's buying power in $ETH hasn't been as strong, similar to Grayscale's Mini ETF, which only saw an increase of a little over 1,000.

Selling pressure still comes from Grayscale's $ETHE, but it's only around 2,000 ETH sold, which is not significant. From the current data, the sell-off of ETHE should be nearing its end, and the quantity available for sale in the market should not be much.

The large purchases in ETFs on Monday can be seen as a sign of improving investor sentiment. After all, with the start of the 6th, American investors have gradually begun to return to normal life, and liquidity has started to rise. However, I am still not too optimistic about prices. Although U.S. stock index futures opened higher today, the increase is very small, and it's uncertain how the market will move after the opening, especially without clear positive or negative data. Cryptocurrencies, especially BTC, may move more closely with U.S. stocks.

However, the good news is that we have seen the U.S. dollar index fall below 108, and investors' risk appetite will gradually increase as the dollar index declines.