#山寨币战略储备# The Ethereum ETF market has recently performed poorly, experiencing net capital outflows for three consecutive days, attracting investors' attention.

Data shows that on September 24, the Ethereum spot ETF had a net outflow of approximately $79.4 million, continuing the downward trend of the previous two days. Among them, BlackRock's ETHA saw a decrease of $26.5 million, while Fidelity's FETH had an outflow of $33.3 million. In stark contrast, during the same period, the Bitcoin ETF attracted an inflow of $241 million.

This phenomenon reflects the differing attitudes of institutional investors towards various crypto assets. From the perspective of professional investment institutions, BTC is viewed as digital gold and is considered a core allocation asset; whereas, due to its complexity and difficult-to-understand characteristics, ETH is more often classified as a high-risk speculative tool. During market fluctuations, these types of assets often become the first targets for sell-offs.

However, from a long-term data perspective, the overall performance of the Ethereum ETF remains impressive. As of now, the cumulative net inflow of the Ethereum ETF has reached 13.6 billion USD, with total assets of 27.4 billion USD, accounting for 5.45% of Ethereum's total market capitalization. There have been no significant changes in the fundamentals, and the current outflow of funds may simply be a short-term strategic adjustment.

As market sentiment improves or significant positive news emerges, funds are expected to flow back into the Ethereum ecosystem. It is worth noting that in the next market upcycle, whether ETH can reactivate other small cryptocurrencies will be a key focus, as institutional investors' attitudes towards small tokens like PEPE and DOGE will also be in the spotlight.