Although the data for the ETH spot ETF is not as dire as that for BTC, it is still not looking good. On Monday, there was a significant outflow of investors from BlackRock, and on Tuesday, Fidelity also saw a considerable number of exits. When investors are feeling panic over #BTC, it goes without saying that the situation for #ETH is even worse. This is mainly because there are fewer investors buying ETH due to its price, resulting in relatively lower selling volume.

In this situation, it is actually not a good thing for any ETF to go through, especially since the ETFs applied for by Grayscale are almost all intended for offloading. As the saying goes, if BTC is not doing well, then it is highly likely that nothing else will either.

This is the case for ETH; at least BTC has a state strategic reserve to look forward to, while ETH only has staking. However, as prices continue to decline, the expectations for staking returns may not even be enough to cover the cost of buying in, so choosing to exit is also a normal reaction.

Although I don't really want to say that we are in a bear market right now, as there are no indicators of a bear market appearing, the US stock market has already recovered from yesterday's decline. If we insist on calling it a bear market, I wouldn't know how to explain it.

The data has been updated, address: https://docs.google.com/spreadsheets/d/1W7JJ8lMQiUUlBb9U-BvFoq2H-2o5CpUuPO4D_KK3Ubw/edit?usp=sharing

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