Ether outruns bitcoin as ETF money returns, almost all of from BlackRock’s fund
This is not a broad rally as bitcoin is up 4% over the same stretch, and solana, TRON and hyperliquid are all lower.
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Summary
- Ether has outperformed the rest of the large-cap crypto market this week, rising about 11 percent over seven days as most other major tokens were flat or negative.
- Inflows into U.S. spot ether ETFs have accelerated, with $96 million added in the first three days of the week, heavily concentrated in BlackRock’s low-fee products while Grayscale’s higher-fee ether trust continues to see outflows.
- Ether is also benefiting from new demand from Robinhood Chain, a layer-2 network launched July 1 that uses ether for gas and has been processing more than $800 million a day in mostly memecoin trading, even as bitcoin’s on-chain data suggest its market remains relatively steady despite volatile ETF flows.
