Compared to BTC, the data for $ETH looks much better. In the primary market, the purchasing power for ETH spot ETFs in the last two to three weeks has been at least double that of BTC spot ETFs, indicating that off-market funds are gradually flowing into ETH.
Moreover, even when the price of ETH drops, BlackRock's $ETHA has not only maintained its strength but has also seen higher trading volumes, demonstrating a strong willingness for market turnover. The trading volume in the spot market for ETH is also quite significant.
This reflects the structural differences between ETH and BTC, as ETH is indeed accumulated by investors using funds.
This article is sponsored by #Bitget | @Bitget_zh
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