In the past six months, institutions have shown a greater preference for ETH than for other ETFs; real money speaks the most plainly.

Specifically:

1. As of September 11, the net inflow into the ETH 1-month ETF was $1.95 billion. Compared with the newly issued supply, this represents 3007%—about 15 times the intensity of BTC and over 340 times that of SOL.

2. Over the past 6 months, ETH ETF flow intensity reached 2171% (due to net supply burn). Institutional capital has, through ETF channels, demonstrated a clear preference for ETH.

3. In recent September data, this trend has continued. ETH inflows have remained relatively stable, and the direction of real capital is worth paying attention to.

4. As the crypto sector gradually moves down to the stage of real-world adoption, more people will focus on the value of ETH.