Summary
- Glassnode noted that the fund flows of Ethereum (ETH) spot ETFs will show the investment direction of institutions.
- Last week, 649,000 ETH was added to Ethereum spot ETFs, and the price of Ethereum rose to $4,740 before entering a correction phase.
- It was highlighted that, depending on the flows of today's Ethereum ETFs, attention should be paid to whether institutions will continue buying the dip or start taking profits.
There was a claim today that the capital flows of Ethereum (ETH) spot exchange-traded funds (ETFs) will indicate the investment direction of institutions.
On the 18th (local time), Glassnode stated on X (formerly Twitter), "Last week, 649,000 ETH was added to Ethereum spot ETFs," and, "Ethereum rose up to $4,740 before entering a correction phase." They continued, "Today's Ethereum ETF flows will show the direction institutions will take going forward," and added, "We should pay attention to whether they pursue more dip buying or start taking profits."
As of 7:59 p.m., based on the Binance USDT market, Ethereum is trading at $4,263, down 6.75% from 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit![[Analysis] "XRP risks repeating the 2022 rout…most short-term investors in the red"](https://media.bloomingbit.io/PROD/news/845f37bb-29b4-4bc5-9e10-8cafe305a92f.webp?w=250)
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