Crypto
Ethereum Surges Past Bitcoin on $365M ETF Inflows
Ethereum surged past Bitcoin in July, gaining 19% and reaching as high as $1,970. In contrast, Bitcoin rose just 8% over the same period but failed to break the $65,000 level.
The divergence between the two assets pushed the ETH/BTC ratio above 0.030 for the first time in three months before it eased to 0.02962. This marked a significant turnaround for Ethereum, which had underperformed Bitcoin for almost a year.
Ethereum's strong performance was driven by ETF inflows and corporate accumulation. Regulated funds attracted fresh capital, with US spot Ethereum ETFs recording $365.17 million in net inflows during the month, their strongest performance this year.