According to Arkham monitoring data, the Bitwise spot Ethereum exchange-traded fund ETHW marker address transferred 932.656 ETH to the Nonco address 22 hours ago, worth approximately $2.21 million. Historical data shows that this transaction was the first outbound transaction from this address in the past two months. Previously, Bitwise had stated that Ethereum fundamentals remain strong, with over half of stablecoins on the Ethereum chain and over 60% of DeFi assets locked on Ethereum. Its Chief Investment Officer Matt Hougan said that ETH now seems to be ignored, but its poor price performance could reverse as the year draws to a close.