The results are better than expected. After yesterday's BTC price adjustment, I initially thought that ETF investors who chase gains and cut losses would collectively sell off. The reality is that Fidelity investors did indeed sell significantly, but BlackRock is still steadily buying. According to the data, the net inflow is not much, but at least it remains positive. However, one change worth noting is that BlackRock investors' buying volume has halved, indicating that everyone is starting to hold back. Overall, institutions haven't completely withdrawn; they've just slowed down.