Ether has outperformed bitcoin over the past week as fresh capital flows into spot ETFs, with BlackRock’s fund accounting for the bulk of the inflows. Bitcoin is up 4% over the same period, but ether’s gains have been stronger, marking a shift in momentum for the second-largest cryptocurrency. The move comes as ETF money returns after a lull, with most of the buying concentrated in a single product.
BlackRock ETF leads the charge
BlackRock’s iShares Ethereum Trust has been the primary beneficiary of the renewed appetite. The fund has drawn the largest share of inflows among all ether ETFs, signaling that institutional money is flowing through the world’s largest asset manager. The exact figures weren’t disclosed, but the trend is unmistakable: ETF buyers are favoring ETH over BTC this month.
Altcoins struggle while ETH rises
Not all tokens are riding the wave. Solana, TRON, and Hyperliquid are all lower during this stretch, even as ether climbs. The divergence underscores a market that is picking winners selectively. Solana and TRON had strong runs earlier in the year, but they’re now giving back some of those gains. Hyperliquid, a decentralized exchange token, has also failed to catch the tailwind. The total crypto market cap has inched up, but the gains are concentrated in ether and, to a lesser extent, bitcoin.
What’s next
The next weekly ETF flow report, due later this week, will show whether the trend continues. For now, ether is the clear leader among major cryptocurrencies, with BlackRock’s fund driving the narrative.
