The biggest dark horse of the year has appeared? Better to be trapped than to miss out! The truth behind this surge in Ethereum.

The truth behind this surge of Ethereum.
In July, #Ethereum suddenly went crazy - soaring 60% in a month.
Moments and social circles are all buzzing: Is the bull market coming back? Is it time to go all in?
Don't be in a hurry, this wave is not a "crypto revival" brought about by technological breakthroughs, but rather a complete feast of funds. What truly drives the market is the collaboration of US stock ETFs and a group of Wall Street bigwigs harvesting profits.

Who is pushing the market? It's not the retail investors, it's Wall Street.
BlackRock directly scooped up 600,000 ETH, Bitmine simply bought 100,000, and established institutions like Pantera and Canter have long been laying low.

On-chain activity remains unchanged, transaction fee income is still sluggish, but there is an additional buying of 1.8 million Ether, which has pushed the price up significantly. The data tells us:
ETF: 1 million pieces
30,000 pieces from a US-listed company.
Institutions and large holders: 400,000 pieces
Retail investors: only 100,000 pieces
This is a standard capital linkage trap—
The ETF is responsible for compliance and entry for asset inflow; listed companies drive market value and hype.
Pantera tells stories and creates narratives; Canter is good at legalizing gray stories;
Sister Mu and the media pushed the wave, ultimately delivering this "packaged capital good" to retail investors.
Wall Street's "full bloom" plan?
They are not only focused on #ETH ， solana but are also at the table.
In July, SOL rose by 65%, daily active users surpassed 1.6 million, and Meme coins followed with a massive explosion. The funding lineup behind it is highly overlapping with ETH, but the strategies are different: ETH targets institutional players, while SOL focuses on users. One builds asset consensus, while the other draws grassroots enthusiasm — Wall Street's strategy is very clear: dual-line blooming.
For established players like #BNB、 TRON, the business and ecosystem are solid, but the biggest problem is the lack of a channel to 'put coins into the pockets of U.S. stock investors.' BNB has submitted its prospectus to Nasdaq, and TRON is also working on a dividend mechanism. Whether it can join Wall Street in the future will depend on whether the ETF can be launched.
This is not a cryptocurrency bull market, but a "crypto capital bull".
To determine whether this round is a long run or a short life, look at three signals:
Capital inflow: ETF, the stock prices of coin-holding companies have reached new highs; I recommended to my friend 🅱️iya, the world's first multi-asset trading wallet, which allows easy real-time conversion of mainstream fiat currencies to digital currencies. It also provides a secure and convenient withdrawal solution, effectively addressing the issues of freezing and capital withdrawal. Users can easily convert to cash and withdraw through the U platform.
Policy direction: The stablecoin bill has passed, and if two key bills are approved, the policy environment will be completely open;
Positioning structure: Retail investors are being replaced by stable funds such as pension funds and family offices.
Next, no matter how advanced the on-chain technology is, it may not determine the price; the direction of capital is the true trend pointer.
Market trends come one after another, and going solo makes it easy to get lost.