Matrixport: Spot Ether ETF inflows sharply decline, Bitmine is actually the only continuous buyer

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[Matrixport: Spot Ether ETF inflows sharply decrease, Bitmine is actually the only sustained buyer] Matrixport released a daily chart analysis stating that the Ether ETF has once again shown lackluster performance, with Bitmine being the only institution consistently buying. Following strong inflows of $5.2 billion and $4.3 billion in July and August respectively, the inflows in September and October plummeted to only $300 million and $600 million, with almost no continuation thereafter. If there is a lack of new institutional demand, Ethereum remains susceptible to further consolidation, and may even face a deeper correction. Bitmine's net asset value (NAV) is only slightly above the issuance level, which means the company can still dilute shareholders and raise additional funds, but this model seems difficult to maintain in the long term. The next upgrade of Ethereum, Fusaka, is scheduled for December 3, 2025.

ETH-5.1%
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