TechFlame reports that on-chain analyst Ember said that the US ETH spot ETF's ETH is now allowed to be staked, which is probably the reason (1) for ETH's rebound from $3,800 to $4,700 during this period. Two Grayscale-managed ETH spot ETFs have staked 32,000 ETH over the past 9 hours. They had a massive ETH distribution 20 days ago, with 3200 ETH per address. An announcement last night confirmed that the ETF they manage can now stake ETH, and then they used 10 addresses to stake 3.2 million ETH.