Since early October, more than 400,000 ETH have flowed from exchanges into cold wallets.

Jinse Finance reported that since early October, other major investors and institutions have been steadily increasing their holdings of Ethereum, with more than 400,000 ETH flowing from exchanges into cold wallets. Exchange reserves have dropped to their lowest level in three years, indicating that large institutions are still holding long-term positions rather than engaging in short-term speculative trading. According to on-chain data, the cumulative institutional holdings of corporate bonds and Ethereum ETFs have now exceeded 12.8 million ETH, accounting for more than 10% of the total supply.