I am Fuxiang Predictive Old Chen, a veteran in the crypto circle who can understand the direction of capital.

An ETF data point that most people overlook hides a stunning script of traditional capital re-betting on ETH!

According to ChainCatcher citing SoSoValue data: last week (from July 28 to August 1), the overall net inflow of Ethereum spot ETFs was $154 million, but you need to look at the details: among nine ETFs, only BlackRock's ETHA was buying! The others were all flowing out!

BlackRock ETHA: swept up $394 million in a single week! Has accumulated $9.74 billion, so strong it's absurd!

Grayscale ETHE: continuing to flee, net outflow of $53.8 million in a single week, historically accumulated outflow of $4.34 billion.

Fidelity FETH: looks like a 'net inflow' of $72.05 million, but it's just a reallocation, not new funds.

Look at the overall market, the total net asset value of ETFs has reached $20.11 billion, equivalent to 4.7% of Ethereum's total market capitalization, and this proportion is continuing to rise.



Old Chen's viewpoint: ETF is neither a positive nor negative signal; it is a signal of capital migration! This is not a simple ETF subscription and redemption; it is a reshuffle of forces within traditional finance!

BlackRock's $394 million sweep is a reaffirmation of ETH's value; Grayscale's exit is a signal for the exit of traditional arbitrage institutions. The main players in the crypto circle are shifting from 'cash-out' funds to 'long-term allocation' giants!

This means:

The 'degree of formalization' of ETH as an asset is accelerating.

The rotation among giants does not release negative news, but rather the explosive energy after a liquidity window period.

The more ETF holdings there are, the weaker the market's ability to crash, because the patience of traditional funds and regulatory requirements are locking them in.


Capital flow + on-chain data = the 'double bottom support' for ETH rebound.


On-chain data has long told us:

Galaxy buys $300 million in ETH off-exchange; although there's a floating loss, it aims for mid to long-term allocation.

Smart money remains with $87.5 million in ETH on Aave after selling.

BitMine continues to stake, with 5% of Ethereum's circulating supply being locked.

DeFi locked assets have risen to $100 billion, and stablecoin trading is active.

And now, ETFs as the 'largest outside increment' are no longer watching from the sidelines, but are directly taking action!

Conclusion: The 'gear shift period' before the storm, the ignition point for ETH has emerged!



ETH's current state is like the tail end of a volatility after chip redistribution: as long as it breaks through the resistance level of 3651, 3800 will be smooth sailing; on the downside, institutional, ETF, and staking long positions provide support, making 3354 the firm bottom. Bullish structure + ETF increases + stable on-chain growth, ETH's next market movement is just a step away from emotional resonance!

Finally, let me say: BlackRock daring to sweep $394 million at this position is a belief? An insider tip? Or bottom hunting? Regardless of which possibility, I choose to follow the money, not guess the sentiment.

Follow me, I interpret first-hand data + operating strategies every day, using sentiment + cognition to outperform the market.#加密市场反弹