ChainCatcher news, Matrixport released today's analysis stating that Ethereum ETF inflows have slowed significantly recently, from strong net inflows of $5.2 billion and $4.3 billion recorded in July-August respectively to $300 million in September and only $600 million in October.

The latest data shows that the recent buying structure is concentrated, mainly from Bitmine's contribution. Analysts point out that in the absence of new institutional funds, the price of ETH may continue to consolidate, and even a deeper pullback is not ruled out. It is worth noting that the net value of the Bitmine fund is slightly higher than the issuance level, and although it can continue to issue additional shares to absorb incremental funds, it will dilute the rights and interests of existing holders, and its sustainability is questionable. Ethereum's next upgrade, Fusaka, is scheduled for December 3, 2025.