TechFlow news, on November 3, Matrixport released its daily analysis indicating that inflows into Ethereum ETFs have noticeably slowed recently, dropping from strong net inflows of $5.2 billion and $4.3 billion in July and August respectively, to just $300 million in September and only $600 million in October. Latest data shows that recent buying activity has been concentrated, primarily driven by Bitmine. Analysts pointed out that without new institutional capital entering the market, ETH prices may continue to consolidate, or even face deeper corrections. Notably, Bitmine's fund net asset value is slightly above its issuance level, allowing it to issue additional shares to absorb new funds, though this would dilute existing holders' equity, raising concerns about its sustainability. Ethereum's next upgrade, Fusaka, is scheduled for December 3, 2025.
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