So, Did Wall Street Sell Off a Large Amount of ETH?
Not at all. In fact, they've been accumulating significant amounts of Ethereum (ETH) recently.
Source: Coinglass
If we take a look at the data, a few months ago, I predicted that the total holdings of other spot ETH ETFs would eventually surpass those of ETHE, the existing spot ETH ETF.
Source: Coinglass
Well, the moment has finally arrived—the combined ETH holdings of the second and third-place ETFs have surpassed ETHE.
This is a significant milestone. Yet, retail investors remain skeptical, focusing only on the price instead of the bigger picture.
From my perspective, Wall Street’s average ETH purchase price seems to be around $3,000. Given this, does it really make sense to think this third altseason is over? I don’t think so.
The data paints a clear picture.
