Recently, the situation with ETH has been quite tough. BlackRock's investors experienced another large-scale reduction on Thursday, and the key point is that other institutions in the market have basically not taken any action—it's just this one selling. As of now, BlackRock investors have sold off 500,000 ETH. This selling pressure has directly affected the spot ETF—looking at the overall holdings, they are expected to return to a net outflow next week. The current net inflow is only 0.15%, honestly, this number has lost its confidence. The market is waiting to see whether more institutions will follow suit or if they will hold their ground.