Ethereum $ETH continues to flow in but the price does not rise, there may be several reasons:
ETF inflow ≠ Institutional buying
The sources of funds for ETFs are complex, including retail investors, arbitrageurs, market makers, etc., and it does not necessarily mean that institutions are buying.
Institutions may have already accumulated at low prices
Large institutions may have purchased ETH off-exchange in advance and then transferred it to the ETF custody address, creating the illusion of "new funds entering the market," while the actual buying was completed earlier.
Market sentiment and hedging strategies influence
Some investors may be shorting ETH to hedge risks, or institutions may use ETF inflows to cover their spot market sell-offs.
Short-term capital inflow ratio remains low
The trading volume of Ethereum ETFs only accounts for 1.5%-2.5% of the market, which has a limited impact on prices.
Long-term may still rise
If funds continue to flow in (such as over $800 million in June), it could eventually drive up ETH prices, but it requires time to digest market sentiment.
Conclusion: ETF inflows are a positive signal, but short-term prices are affected by multiple factors, and the long-term outlook remains optimistic.
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