Ethereum Surges Past Bitcoin as ETF Inflows and Staking Demand Soar
Ethereum's price has surged nearly 20% in July, outperforming Bitcoin's 11.7% gain, as institutional demand and staking activity continue to drive the asset upwards.
The Ethereum price reached $1,911 after gaining 2.5% on the day, with BlackRock's Ethereum funds recording net inflows of $99.2 million in the five days ending July 24. Cumulative inflows into US spot Ethereum ETFs surpassed $11 billion, while exchange reserves fell to 15.1 million ETH.
Ethereum's staking entry queue reached 2.53 million ETH, indicating sustained demand for validator participation. The validator exit queue, which had been at a backlog of over 2.6 million ETH since September 2025, finally dropped to zero. This reduction in immediate pressure from delayed withdrawals and the large entry queue limiting available market supply all point to sustained accumulation across institutional and on-chain channels.
The Altcoin Season Index climbed 7.84% during the past week, suggesting some capital had rotated away from Bitcoin as Ethereum outperformed the largest cryptocurrency. Ethereum's 14-day relative strength index reached 56.01, indicating positive momentum without overbought conditions.