$ETH inflows have been disappointing since ETF trading began. 

why? institutions view $ETH through a fundamental lens and see it as overvalued. 

compared to companies with P/E ratios around 20-50, $ETH sits at 100, making it hard to justify buying. 

even when compared to $BTC (like Silver to Gold), $ETH is overvalued, with ETHBTC needing to drop 20% to be in line.

so, for institutions, $ETH just isn't a buy right now.

credit: Monolith.vc

Institutions remain cautious on $ETH due to perceived overvaluation compared to traditional P/E ratios and even in relation to $BTC. The current sentiment suggests that $ETH may need to adjust to attract institutional interest in the future. 