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Ethereum leads Bitcoin in July as ETH/BTC ratio rises and spot ETF inflows surge
US spot Ethereum ETFs pulled in $365.17 million in net inflows during July, the strongest month this year, while Bitcoin ETFs saw $172.43 million.
Ethereum outperformed Bitcoin in July, driven by stronger demand for regulated investment products and corporate accumulation, pushing a relative performance shift that has started to attract market attention. CryptoSlate data showed ETH gained 19% during the month, reaching as high as $1,970 before falling to $1,868 at press time, while BTC rose 8% and repeatedly failed to break above $65,000.
The relative move lifted the ETH/BTC ratio above 0.030 for the first time in three months, before easing to 0.02962. Over the past month, the ratio has risen more than 10%, reflecting a widening performance advantage for Ethereum.
The outperformance also extended beyond spot markets, as regulated funds attracted new capital and derivatives traders rebuilt exposure. US spot Ethereum ETFs recorded $365.17 million in net inflows during July, their strongest performance this year, versus $172.43 million for Bitcoin ETFs, which was described as their weakest monthly total since launching in January 2024.
CryptoSlate also cited the launch of the Morgan Stanley Ethereum Trust, which trades under ticker MSSE, accumulating about $20 million in assets during its first days. BitMine, described as the largest corporate holder of Ether, increased its ETH holdings each week in July, raising its balance from about 5.70 million ETH at end of June to 5.79 million ETH as of July 26, while Strategy made no purchases during the month.
Latest closeBitcoin $63,051.06 ▲0.5%|Ethereum $1,854.24 ▲0.6%