Why, from the perspective of institutions, ETH may still not have fallen to its full potential? There are two big things happening on Ethereum today. One is that everyone, regardless of whether they are long or short, is surprisingly united and hopes to collapse, causing those two idiotic and stubborn donkeys and whales to explode. The other is that the deadline for Ethereum ETF staking has arrived today, but there has been no movement. I have been emphasizing on Twitter since I transformed into the "Ethereum Black Star" or "Ethereum Rational Believer" a few months ago that Ethereum has lost its fundamental value as a valuable asset, whether it is ecological loss, network revenue, user transactions, active developers, core leadership capabilities, etc. Therefore, do not continue to analyze Ethereum based on fundamentals, and do not like many old OGs who have benefited from early dividends, constantly talk about decentralization, security and other words like monks reciting scriptures and muttering self brainwashing (I recognize these values, but do not agree that they can be reflected in prices). Since Ethereum has lost the value of fundamental analysis, both Bitcoin and the Ethereum community have become dogs on Wall Street, with a single sentence controlling the trend. Therefore, we can only analyze their thoughts and actions from the perspective of institutions. In fact, from the Ethereum ETF pledge, you can infer that institutions do not want Ethereum to rise, and even want it to continue to fall. At present, the only positive price that Ethereum can think of in the short to medium term is ETF staking. Other than that, do you agree? If you agree, continue reading. If you don't agree, there's no need to continue reading. Many people say that Ethereum's stronghold on Wall Street is BlackRock? Actually, there's no problem with saying that. BlackRock is the vanguard of Ethereum in terms of its position size. So, does BlackRock want Ethereum to rise? You would definitely say of course you want to. Actually, it's not like that. Let me ask you another question? If the current market believes that the pledge approval of ETFs is the biggest positive that can be thought of, why hasn't BlackRock submitted any pledge application documents so far? Tell me！ Look in my eyes！ Are you wondering if the ETF pledge documents have already been submitted? Where else did the deadline come from? At present, all the submissions are small Karami like 21shares and Bitwise, while BlackRock has not taken any submission actions. You are careful, you are putting yourself in the position of CEO of BlackRock. What do you think about this? Yes, that's exactly what you think.