Check out the ETH ETF data for this week: Net inflow this week is about $12.6M, compared to $169.4M last week—a 92% drop. Fidelity is almost holding it up alone. BlackRock had $39.3M last week, but this week it’s down to zero. Grayscale’s selling pressure has stopped, but no new money is coming in either. ETF funds are hesitating, but on-chain whales are aggressively accumulating. ETH reserves on exchanges have dropped to 16 million, hitting a new low. Watching on one side, hoarding on the other— What does this kind of divergence usually mean? Those who get it, get it.