Although BTC market performance was relatively flat on Wednesday, spot ETF saw a noticeable influx of funds. This buying power mainly comes from Fidelity investors, but honestly, if BlackRock's funds had entered, market attention might be even higher. Fidelity's user base often exhibits chasing gains and panic selling, whereas BlackRock investors seem to be more patient—they have recently increased their positions, purchasing nearly 1,300 Bitcoins in a single transaction. Whether the subsequent actions of institutional investors will create sustained buying pressure is a question worth observing. After all, the stability and scale effect of ETF funds can often influence market expectations to some extent.