Compared to Bitcoin's data, the ETH spot ETF is still not good enough.

CN
Phyrex
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25 days ago

Compared to Bitcoin's data, the ETH spot ETF is still not good enough, but we can still see the panic sentiment easing. Although Grayscale's sell-off was significant on Monday, there were no other institutions participating in the sell-off besides Grayscale. The same was true on Tuesday, and even Grayscale's sell-off began to decrease.

However, the buying volume remains very low, which may be directly related to the current narrative and liquidity. Currently, $ETH has returned to being classified as a large altcoin. To be honest, ETH hasn't done anything wrong this round; it even kept up with all the hotspots of BTC. Unfortunately, it ultimately cannot compete with BTC, which lacks a foundation.

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