Last Friday, the spot ETF data for BTC and ETH was still not very friendly, but it wasn't too bad either; at least there were no signs of panic. Although there was a net outflow last Friday, the actual amount that flowed out wasn't significant. From the #ETH data, Grayscale and Bitwise were the main sellers, collectively selling 7,222 ETH, which is not enough to impact the spot price in the market.
I see many friends asking why, despite Bybit buying a large amount of ETH to fill the gap, the price of ETH not only hasn't risen but has actually fallen. I'm not very clear if Bybit's gap was filled by buying in the secondary market; I haven't been paying attention to this issue recently. If it was bought in the secondary market, then it would be like dressing up for liquidity exit, but I don't think that should be the case. Such a large amount of funds should be bought in OTC.
From the data of week 30, compared to week 29, the ETH holdings in the U.S. are decreasing, but only by 46 ETH. The overall change in holding parameters is not significant, which also indicates that most investors are not very sensitive to the current price. Even when there are many FUD voices about ETH, investor sentiment remains quite stable.
However, the net purchasing power in week 30 decreased by about 47% compared to week 29. Although investors are not very interested in selling, their interest in buying is even lower. But it is precisely because the interest in buying was low during the previous FOMO that the current selling pressure is not very strong, while the selling pressure for #BTC is somewhat larger.
As of now, Grayscale holds a total of 1,774,281 ETH, ranking first, BlackRock holds 1,366,069 ETH, ranking second, and Fidelity, holding 466,650 ETH, is in third place. Other data is even lower.
The data has been updated, address: https://docs.google.com/spreadsheets/d/1W7JJ8lMQiUUlBb9U-BvFoq2H-2o5CpUuPO4D_KK3Ubw/edit?usp=sharing
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