Last Friday, the data for $ETH was not much better; Grayscale and BlackRock investors are still the main force behind the sell-off. However, similar to $BTC, even though the selling is happening, the intensity of the sell-off has started to decline, with Grayscale making a reduction of over ten thousand units, while BlackRock's sell-off is only in the four-digit range.
In the past 82 weeks, American investors have reduced their holdings by about 82,000 ETH, while this figure was around 90,000 in week 81. It is indeed evident that the traditional investors' sell-off is decreasing, but the buying power is still a complete mess, with investors showing no interest in purchasing cryptocurrency ETFs.
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