ETH is about to explode? Fidelity turns the tide! The secret behind the surge in holdings
Speaking of the data of $ETH spot ETF, it is much faster than $BTC . There are too many institutions on the BTC side, and it is really time-consuming and laborious to count. The performance of ETH on the last day of work in 2024 is still acceptable, but it is not very good. Grayscale outflowed a lot after the market on Monday, and BlackRock has been silent for two consecutive days. It was all thanks to Fidelity that it supported the scene on the last day and bought more than 9,500 ETH, which prevented the data from becoming a net outflow.
Although BTC also had a net inflow on the capital side, BlackRock had a net outflow for two consecutive days. It was also Fidelity that came to the rescue at the last minute, allowing BTC and ETH to have a good ending. The amount of BTC and ETH bought by Fidelity is almost the same, and it really doesn't fall behind on both sides.
To be honest, the price of ETH has been complained by everyone, but the recent buying sentiment is not bad. ETH is just missing an opportunity to explode. This opportunity is either a general rise in market sentiment or a positive impact from the pledge of RWA or ETH spot ETF.
Looking back at the ETH spot ETF in 2024, it has really gone through twists and turns. At the beginning, everyone had high expectations for ETH, and ETH also rose after BTC passed. But then the SEC became more and more strict in regulating cryptocurrencies, and many people were not optimistic about the ETH spot ETF. The expected approval rate once fell to less than 20%. Fortunately, it began to reverse and pass at the last minute. But the market reaction was mediocre after passing, and the price of ETH did not keep up.
More than five months have passed since the ETF was listed on July 23. For more than four months, ETH has been a net outflow in the ETF, and Grayscale has sold nearly 1.2 million ETH, accounting for 42% of the total. It was not until the end of November that it began to become a net inflow. BlackRock is the largest buyer, buying more than 1 million ETH, and Fidelity also bought more than 470,000 ETH.
By the end of 2024, the US spot ETF holdings increased by nearly 560,000 ETH, and the three ETFs in Hong Kong also increased their holdings by more than 5,000. Overall, more and more investors are optimistic about the development of ETH. After the new government takes office, compliant cryptocurrencies will definitely be more popular with capital.
For the next layout direction, I will lead everyone to aim at the profit opportunities of the copycat. There is no problem with the expected space of more than 10 times. Like + leave a message, and take you to layout the entire bull market!