On-chain data shows that on July 22, grey release, one of the first ETF issuers, sent 292,262 ETH worth more than $1 billion to the Coinbase Prime deposit wallet. According to data provider iChaininfo, after the transfer, about 10% of the 292,000 ETH was transferred from the Coinbase hot wallet to the Grayscale Mini Trust or wallet "0xab3". The massive transfer indicates that grey release is preparing for the launch of its Ethereum spot ETF.