In the last 7 effective trading days, the cumulative net increase in the ethereum:native spot ETF was 157,852.34 ETH, significantly stronger than BTC. After consecutive outflows from the 8th to the 10th, there was a total net increase of 112,900.89 ETH on the 11th and 14th, recovering the previous losses and further reaching a new high for total holdings.

From the perspective ofETF funds, ETH did not experience a sustained withdrawal due to price fluctuations in the past week. Instead, after the pullback, there was a noticeable demand for reallocation.

However, ETH's price is currently affected by the entire risk asset environment, showing short-term weakness, yet ETF holdings continue to increase. This indicates that the spot ETF funds are currently taking advantage of the pullback to increase their allocations, rather than buying in response to rising prices.

As long as there are no consecutive large net outflows in the future, the structure of ETH's ETF funds remains stronger than BTC's. If macro pressure eases, ETH will also find it easier to exhibit stronger price elasticity due to this previously accumulated spot buying.

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