New Ethereum addresses hit lowest level this year… Suggesting ETF exposure over direct purchases

Following the start of trading of Ethereum exchange-traded index funds (ETFs) in the United States, the number of new Ethereum wallet addresses has reached its lowest level this year.
According to data from The Block, on the 4th (local time), the seven-day moving average of new Ethereum wallets hit its lowest level since December 2023. However, last year
The average number of active addresses and transaction volume on the Ethereum network have also declined recently, hitting their lowest levels in nearly six months.
Following the recent launch of an Ethereum spot ETF on the U.S. stock market, the decline in numbers suggests that some investors are approaching Ethereum through ETFs rather than buying it directly.
Meanwhile, Ethereum rival Solana has recently reportedly seen an increase in the number of new addresses.