Over the past three weeks, #ETH spot ETF data shows a gradual decrease in $ETHE selling, from 4,448,392 ETH in the first week to 250,862 ETH in the second week, and further down to 71,022 ETH this week. Grayscale has sold a total of 770,276 ETH. Despite the slowdown in selling, ETH spot ETFs have shifted to net inflows, but net purchasing power has decreased due to global liquidity issues. This situation is also observed in #BTC, with funds ultimately flowing towards top-tier ETF institutions. US investors have a clear preference for ETH, and ETF funds are expected to improve with the recovery of liquidity, the implementation of FASB at the end of the year, and shifts in US macro policies. This week, Hong Kong's ETH spot ETF experienced a net inflow of 850 ETH.