Ethereum Surges Past Bitcoin Amid ETF Inflows, But On-Chain Data Remains Cautious

Ethereum outpaced Bitcoin in July, gaining 19% as stronger investment-product demand and corporate accumulation powered its first sustained relative advance in months.

Data from CryptoSlate shows that ETH rose to $1,970 before retreating to $1,868. Bitcoin rose 8% over the same period but repeatedly failed to break the $65,000 level.

The divergence pushed the ETH/BTC ratio above 0.030 for the first time in three months before it eased to 0.02962.

Ethereum's July advance spread beyond spot markets as regulated funds attracted fresh capital and derivatives traders began rebuilding exposure. US spot Ethereum ETFs recorded $365.17 million in net inflows during the month, their strongest performance this year.