Ethereum Surges Past Bitcoin with $365M in ETF Inflows
Ethereum has outpaced Bitcoin in recent months, with $365 million in ETF inflows and corporate accumulation driving its price up by 19% in July.
The ETH/BTC ratio rose above 0.030 for the first time in three months, reflecting Ethereum's widening performance advantage over Bitcoin.
However, on-chain indicators suggest that the real bottom may not be in yet, with several measures still short of levels seen before previous reversals against Bitcoin.
Data from CryptoSlate shows that ETH gained 19% during July, climbing as high as $1,970 before retreating to $1,868. Bitcoin rose 8% over the same period but failed to break the $65,000 level.
The Morgan Stanley Ethereum Trust has accumulated about $20 million in assets since its launch and has access to a large pool of advisers and wealth-management clients through Morgan Stanley's distribution network.