Ether has pulled ahead of bitcoin as capital flows back into spot ether exchange-traded funds, with nearly all of the fresh money coming from BlackRock's product. The move underscores how concentrated institutional demand can drive short-term price divergence between the two largest cryptocurrencies. Rather than reflecting a broad market upswing, the gains appear narrowly focused on ether. Bitcoin rose about 4% over the same period, a more modest advance, while other major tokens weakened. Solana, TRON and hyperliquid all traded lower during the stretch, signaling that risk appetite was not spread evenly across the sector. The pattern points to selective positioning rather than a market-wide rally, with ETF-driven inflows playing an outsized role in shaping ether's relative outperformance and highlighting the growing influence of large asset managers on crypto market dynamics.
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