When retail investors are in doubt, Wall Street keeps buying ETH.

Compared to the inception of spot ETH(Ethereum) trading, recently, Wall Street has been continuosly buying a bunch of ETH 🤯

Now Wall Street has more than 3.5m spot ETH. It's around $14b. Amazing 😧 Compared to BTC(Bitcoin) holdings($105b) by Wall Street, it's around one-eighth.

As I previously said this table, ETHE is Grayscale's existing spot ETH ETF, and ETH is a Grayscale's newly launched spot ETH ETF due to an expensive operating fee of the existing ETHE. I think funds have been moving from ETHE to ETH or other spot ETH ETFs.

Anyways, the fact is Wall Street has been accumulating spot ETH, and it's not much compared to the purchase amount of BTC. Furthermore, they don't sell much ETH. Do you really think the recent ETH price is the short-term top?