According to the latest report by Lin Sister, the head of APAC Business at Deribit, there were significant liquidity changes in the Ethereum (ETH) market last week. Throughout the trading cycle, except for the day when the ETF was officially launched, the net outflow condition persisted, culminating in a total net outflow of $341 million. During this period, the market reduced its holdings of 104,300 ETH, indicating a decrease in demand for ETH and adjustments in investor strategies. Notably, Grayscale Investments played a crucial role during this period, disposing of 450,800 ETH over four days, further impacting the market's supply dynamics. Despite this, the spot price of Ethereum remained around $3,300, showcasing a certain resilience. In contrast to other cryptocurrencies such as SOL, Ethereum's performance appeared more stable.