The capital flow of the Spot ETF is quite interesting. There has been a continuous net inflow on the BTC side, and ETH has also started to see some inflows, which is not surprising in itself. But if you look closely at the numbers, you can find an issue— the buying volume of ETH is only about one-twentieth of that of BTC.

To put it bluntly, large funds are still more inclined towards BTC at this stage. Although ETH is also rising, its popularity is clearly lacking. My view hasn't changed: if ETH can keep pace with BTC now, that's considered a pass; don't expect it to independently break out into a strong market in the short term. The market votes with real money, and the data doesn't lie.