Ethereum Surpasses Bitcoin with 73% Q3 Gain

Ethereum's Q3 performance has surpassed Bitcoin's, with a 73% gain since June 30 compared to Bitcoin's 44%. This comes as US spot Ethereum ETFs drew in $3.1 billion after two quarters of outflows, roughly 2.5 times more than what Bitcoin funds took in relative to each asset's market value.

The majority of Ether's gains occurred in August, when it rose 33% and Bitcoin gained 25%. This surge was attributed to the US Treasury's decision to double its buybacks of long-dated bonds on August 19, which pulled the 30-year yield off a 19-year high.

According to Farside Investors data, Ether ETFs took in $1.85 billion in August and Bitcoin funds $3.54 billion, making it the biggest month for both assets this quarter. As of September 25, Bitcoin funds had drawn about $6.4 billion, roughly twice what Ether's total intake was.