In the past 7 active trading days, ethereum:native spot ETFs have seen a cumulative net increase of 157,852.34 ETH, significantly outperforming BTC. After consecutive outflows from the 8th to the 10th, a combined net inflow of 112,900.89 ETH was recorded on the 11th and 14th, not only recovering previous losses but also pushing total holdings to a new phase high. From the perspective of ETF funds, ETH has not experienced sustained withdrawals due to price fluctuations over the past week. Instead, after the pullback, there has been a noticeable demand for allocation. However, ETH's price is currently being dragged down by the broader risk asset environment, showing short-term weakness. Despite this, ETF holdings continue to increase. This indicates that spot ETF funds are using the pullback as an opportunity to increase allocations rather than chasing price rallies. As long as there are no consecutive large-scale net outflows in the future, ETH's ETF fund structure remains stronger than BTC's. If macroeconomic pressures ease, ETH is likely to exhibit stronger price elasticity due to the accumulation of these early spot buy-ins. @Gate Crypto, US stocks, Hong Kong stocks, Korean stocks, gold, CFDs, prediction markets—all in one platform.