I stayed up so late today mainly because I was working on the ETH spot ETF spreadsheet. I thought I had prepared enough, but I realized I forgot to record the data on the 22nd. I spent a lot of time recalculating the data on the 22nd. Now it’s finally done. On the first day of the#Ethereumspot ETF, a total of 154,502 $ETH ETH was net inflowed, of which 7,273.15 ETH were outflowed from Grayscale’s two funds.

From this data, we can see that at least in the spot ETF stage yesterday, there was no sign of Grayscale selling in large quantities. In fact, Grayscale’s selling was only a fraction of the net increase, indicating that investors still have great confidence in ETH. Of course, the data of the spot ETF does not represent the trend of ETH spot.

From the price, we can also see that the net inflow of ETH yesterday exceeded 150,000, but the price did not rise significantly. It should be mainly due to the situation of Sell The News. Yesterday, the trading volume of#Coinbasewas 136,000, and the trading volume of#Binanceexceeded 500,000, not to mention that there were a lot of transactions on DEX, so the net inflow of ETF may not necessarily affect the spot price of ETH.

The first day's purchase does not rule out the role of emotions. The next month may be the most critical, but in general, $BTC BTC's net inflow on the first day was about 660 million US dollars, while ETH's net inflow on the first day was 530 million US dollars. ETH achieved 80% of the net inflow of BTC at the beginning, which is enough to show the proportion of ETH in the financial market.

PS: BTC spot ETF had a net inflow of 13,625 BTC on the first day, which is in my historical data.

This is already a victory! Take your time, I believe ETH will continue to follow BTC in the lead.