Ethereum ETF Demand Crushes Bitcoin for 5th Consecutive Day—Flips the Script on Crypto Dominance
Wall Street's new darling isn't what you'd expect. While Bitcoin ETFs lick their wounds, Ethereum funds are vacuuming up capital like a DeFi yield farm in bull mode.
The stealth takeover
Five days straight of ETH ETF inflows outpacing BTC—a trend that would've been unthinkable during last cycle's 'digital gold' mania. The smart money's voting with its wallet, and the ballot reads like a Vitalik Buterin fever dream.
What the flows won't tell you
Never mind that both assets still trail traditional finance's most boring money market funds. When crypto bros fight over silver and gold medals, BlackRock's quietly banking the entry fees.
The real story? Institutional crypto just got interesting again—and for once, it's not all about Bitcoin's tired store-of-value narrative. Game on.
Corporate interest and accumulation
The amount of corporate interest is a bid that operates from structural, not cyclical, reasons, Korhaliller argues. It originates from “three key factors that make Ethereum more attractive than Bitcoin,” he said.
“Unlike Bitcoin, Ethereum supports smart contracts, making it a versatile platform for building a wide range of applications,” he explained, pointing to other reasons such as staking and income-generating features that Bitcoin lacks and the diversity of earning opportunities across Ethereum’s ecosystem.
Still, several risks “could reverse the flow,” Korhaliller warned, pointing to a “historical market correction in September.” He also sees the possibility of retail profit-taking, despite prospects of institutional demand potentially absorbing the selling pressure.
“If this institutional trend persists, the base case is for ETH to reach $10,000 this cycle, with potential for more,” he said. “The fundamental argument is that ETH's greater utility and yield-bearing properties will drive its outperformance against BTC.”
Kelvin Koh, co-founder and CIO at Spartan Group, reads the shift as the start of a larger rotation into ETH.
Ethereum's price is “going a lot higher in the short term,” Koh told Decrypt, outlining several reasons including net flows on Ethereum ETFs surpassing Bitcoin’s, digital asset treasury firms such as SharpLink Gaming and BitMine “raising capital and continuing to accumulate,” as well as the ongoing strength of the “stablecoin and real-world asset narratives.”
The same factors that “drove BTC from last ATH of $69K to $120K are now with ETH,” Koh added, prefiguring how the latter could break an all-time high of nearly $4,900 and “trade a lot higher in the coming weeks.”
At the time of writing, Ethereum is down some 2% on the day to $4,446 and remains up nearly 13% over the last week, according to data from CoinGecko.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
