Jiang Zhuoer, founder of the BTC.TOP mining pool, said Ethereum is attracting unusually strong ETF demand relative to Bitcoin and argued that the current price structure could support another upside squeeze. In a post cited by BlockBeats on Aug. 28, Jiang said BTC ETFs recorded $242 million in inflows for the day, while ETH ETFs took in $234 million.
He contrasted those figures with the relative size of the two assets, saying ETH’s total market capitalization is only 18.8% of BTC’s, yet ETH ETF inflows reached 96.8% of the BTC figure. In his view, that points to stronger capital demand for ETH than for BTC at this stage.
Jiang also described ETH as being in a “high-level consolidation with rising lows,” calling that setup fairly solid as long as inflows continue. He said the market could break upward into another round of short covering at any time. On positioning, Jiang said he would have considered going long ETH if not for his trading discipline and refusal to use leverage. His stated strategy is to hold a full spot ETH position when he has no short exposure, while noting that opening another long would mean taking leverage and introducing liquidation risk.
Jiang Zhuoer, founder of mining pool BTC.TOP, said ETH ETF inflows have hit another high and argued that Ethereum could be setting up for another short squeeze to the upside.
According to BlockBeats on Aug. 28, Jiang said spot Bitcoin ETFs brought in $242 million for the day, while spot Ethereum ETFs saw $234 million in inflows.
He said ETH’s total market capitalization is only 18.8% of BTC’s, yet ETH ETFs absorbed an amount equal to 96.8% of Bitcoin ETF inflows. Jiang said that points to materially stronger buying demand for ETH than for BTC.
On market structure, Jiang described ETH as being in a “high-level consolidation with rising lows” and said the pattern remains solid as capital continues to flow in. In his view, the market could break higher into another round of short covering at any time.
Jiang also outlined his own positioning. He said that if he were not strictly following trading discipline and refusing to use leverage, he would even consider directly going long ETH. For now, his strategy is to hold a full spot ETH position when he has no short position and wait for further gains. He added that opening another long would amount to using leverage and would bring liquidation-price risk.
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