Since early June, treasury companies and spot ETFs have each purchased about 1.6% of the total ETH supply.

With a dual approach, institutions are firing on all cylinders; 1.6% is not a small number, ETH is being snatched up. Standard Chartered Bank says treasury companies are more worth investing in, superior to ETFs, due to normalization of NAV multiples.

This resonates with Thomas Lee's prediction of $16,000, indicating that a bull market is brewing, but news of whales liquidating and approaching liquidation reminds us of the risks. It is advised to build positions in batches and keep a close eye on the $3,800 liquidation line.