We have the same situation as with $BTC - whales are dumping the coin en masse, but institutional investors are buying all the supply. Ethereum ETFs have recorded an inflow of funds for 20 days in a row, which is a record. During this time, investors have invested $5.4 billion in the funds. BlackRock's ETHA alone attracted over $4 billion in July. At the same time, private whales are selling off assets and exiting the market.
