The flows into the Ethereum ETF are just the start.

The most bullish thing for Ethereum is to be understood.

After the ETF is approved the major issuers will be on a crusade to educate institutions & RIAs on Ethereum.

ETH will be understood.

Nothing could be more bullish.

Significant demand shock for ETH that should compensate for the sharp decline as a result of Dencun. It doesn't seem that all the explosion of L2 activity is finally capturing value for Ethereum. I even think we could see L2 with higher fee volumes than Ethereum.