Ethereum Whales Accumulate $ETH in Anticipation of ETF Launch

Wallets holding at least 0.1% of the total supply have shown a consistently positive net flow over the past month, with a notable surge as Ethereum bounced back from its recent lows below 3k. This trend suggests accumulation in anticipation of the upcoming Ethereum ETF release, which is expected to occur around July 23rd.

Our outlook for the coming week is predominantly bullish. However, whether the ETF release becomes a 'sell the news' event hinges on the level of institutional demand for ETH