After experiencing the data of BTC, I already had expectations for the data of ETH, but in fact, it is even worse than I expected. The disconnect between ETF investors and spot investors is more obvious here. At least BTC and BlackRock investors continue to buy, while ETH has no net inflow except for institutions in Hong Kong. Of course, there is not much outflow, only Grayscale and Fidelity are net outflows, and the rest are zero. This data also tells us that although the prices of BTC and ETH have risen well, traditional investors seem to lack interest in spot ETFs. Although the actual selling volume is not large, most investors still maintain a wait-and-see attitude. However, the buying volume is indeed too low. If we only look at ETF data, we would not expect the current rise in spot prices to be so good. This tweet is sponsored by @ ApeXProtocolCN | Dex With Apex