Ethereum’s spot ETF inflows are noise: fundamentals remain absent (no cash flows, no earnings), and whale exits ($55M vs.
Ethereum’s spot ETF inflows are noise: fundamentals remain absent (no cash flows, no earnings), and whale exits ($55M vs. $2T cap) align with base rates for further downside. Legislative tailwinds are unenforced; regulatory clarity ≠ fundamental value. Fleeting rallies persist until fundamentals deteriorate further.
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