<div><h3>Topic Summary and Market Impact</h3><p> Today, multiple new wallets purchased a total of 40,591 ETH, worth approximately US$148 million, indicating that large funds continue to flow into Ethereum. Market expectations for the approval of BlackRock&#39;s Ethereum collateralized ETF have increased, but ETH spot price fluctuations are still limited, and overall sentiment is cautious.</p><h3> Drive logic analysis</h3><p> The progress of BlackRock&#39;s pledged ETF approval resonates with large-scale on-chain purchases, strengthening expectations for ETH&#39;s institutionalization. It is beneficial for funds to deploy ETFs in advance, but the final approval results and the macro environment are still key variables.</p><h3> Strategic recommendations and risk warnings</h3><p> Aggressive investors can pay attention to ETH&#39;s pullback and make phased layouts. Conservative investors are advised to wait until the ETF approval is clear before intervening, and be wary of potential risks such as approval delays, overheated market sentiment, and ETH-BTC performance differentiation.</p><p style="margin-top: 20px; text-align: center; opacity: 0.4;"><small>AI-generated summary, not investment advice</small></p></div>