--- title: "The logic behind ETH's recent outperformance of Bitcoin" type: "News" locale: "en" url: "https://longbridge.com/en/news/293303979.md" description: "Ethereum recently outperformed Bitcoin, rising 11% versus BTC's 4.2%, driven by sustained ETF inflows and positive fundamentals. Ethereum spot ETFs saw $1.82 billion in weekly inflows, contrasting with Bitcoin's volatile flows. Key catalysts include the anticipated 'Glamsterdam' upgrade reducing fees, new demand from Robinhood Chain, Vitalik Buterin's roadmap, and increased whale accumulation. Consequently, the ETH/BTC ratio broke a 301-day downtrend to a three-month high, signaling a market shift toward altcoins." datetime: "2026-07-21T07:27:52.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/293303979.md) - [en](https://longbridge.com/en/news/293303979.md) - [zh-HK](https://longbridge.com/zh-HK/news/293303979.md) --- # The logic behind ETH's recent outperformance of Bitcoin Ethereum has recently outperformed Bitcoin. Over the past week, Ethereum has risen by approximately 11%, while Bitcoin has only risen by about 4.2% during the same period. It has recovered about 30% from its low of $1505 on June 6th, making it the best-performing major cryptocurrency among the top ten by market capitalization, while BTC rose by 11.7% during the same period. This is the most direct reason for Ethereum's strong performance in this round. Unlike the volatile Bitcoin ETF, Ethereum ETFs have seen a continuous and large-scale net inflow of funds. On July 20th, Eastern Time, Ethereum spot ETFs saw a total net inflow of $38.0886 million. The Ethereum spot ETF with the largest single-day net inflow was the BlackRock ETF ETHA, with a net inflow of $34.3111 million. ETHA's historical total net inflow has reached $11.348 billion. This was followed by the Fidelity ETF FETH, with a single-day net inflow of $2.8315 million. FETH's historical total net inflow has reached $2.131 billion. During the week of July 6th to 11th, US spot Ethereum ETFs saw a net inflow of $1.82 billion, marking the strongest weekly performance since January. This momentum continued into the following week, with another net inflow of $105 million. The funds were highly concentrated: most of the money flowed into BlackRock's low-fee products, such as ETHA. On July 9th alone, ETHA attracted $742 million. As of press time, the total net asset value of the Ethereum spot ETF was $10.295 billion, with an ETF net asset value ratio (market capitalization as a percentage of Ethereum's total market capitalization) of 4.48%, and a historical cumulative net inflow of $11.117 billion. This contrasts sharply with Bitcoin: Bitcoin ETFs experienced significant fluctuations in fund flows during the same period, for example, a net outflow of $424 million on July 13th, followed by an inflow of $181 million the next day, indicating unstable investor confidence. On the other hand, this divergence in funding is directly reflected in price ratios. The ETH/BTC ratio has recently achieved a crucial breakthrough. Breaking the 301-Day Downtrend: The ratio successfully broke through the downtrend line that had been holding it back for 301 days. Reaching a Multi-Month High: Driven by this, the ETH/BTC ratio rose to 0.0297, its highest point in three months. \*\*Market Significance:\*\* The continued rise in this ratio is generally interpreted by the market as a signal that funds are shifting from Bitcoin to altcoins such as Ethereum. \*\*From Upgrade to New Ecosystem:\*\* In addition to the driving force of funding, Ethereum's own fundamentals have also benefited from multiple positive developments. - Major Upgrade Expected: The market is eagerly anticipating the upcoming "Glamsterdam" upgrade. This upgrade is expected to triple the gas cap, reduce transaction fees by approximately 78%, and increase throughput to approximately 10,000 transactions per second, considered a key step in strengthening Ethereum as an institutional financial infrastructure. - New Source of Demand: Robinhood Chain, a Layer 2 network launched by the US brokerage firm Robinhood on July 1st, uses ETH to pay gas fees and settle them on the Ethereum mainnet. The network's daily transaction volume has exceeded $800 million, creating new on-chain demand for ETH. \*\*Founder Endorsement:\*\* Ethereum founder Vitalik Buterin released a long-term roadmap called "Lean Ethereum" in early July, outlining the protocol's evolution towards 2030 and boosting market confidence. \*\*Whale Buying:\*\* Institutional investor BitMine has increased its holdings by 325,000 ETH in the past month, bringing its total holdings to 5.74 million ETH, indicating that large investors are actively positioning themselves. Market analysts point out that when risk appetite rises and funds seek assets with higher growth potential, Ethereum, as a "high-beta" asset, often outperforms Bitcoin, which is considered a "crypto safe-haven asset." ### Related Stocks - [ETHE.US](https://longbridge.com/en/quote/ETHE.US.md) - [GBTC.US](https://longbridge.com/en/quote/GBTC.US.md) - [HOOD.US](https://longbridge.com/en/quote/HOOD.US.md) - [ETH.US](https://longbridge.com/en/quote/ETH.US.md) - [FBTC.US](https://longbridge.com/en/quote/FBTC.US.md) - [BITB.US](https://longbridge.com/en/quote/BITB.US.md) - [CETH.US](https://longbridge.com/en/quote/CETH.US.md) - [HODL.US](https://longbridge.com/en/quote/HODL.US.md) - [BTCO.US](https://longbridge.com/en/quote/BTCO.US.md) - [BRRR.US](https://longbridge.com/en/quote/BRRR.US.md) - [EETH.US](https://longbridge.com/en/quote/EETH.US.md) - [BTCW.US](https://longbridge.com/en/quote/BTCW.US.md) - [IBIT.US](https://longbridge.com/en/quote/IBIT.US.md) - [ETHV.US](https://longbridge.com/en/quote/ETHV.US.md) - [EZET.US](https://longbridge.com/en/quote/EZET.US.md) - [ARKB.US](https://longbridge.com/en/quote/ARKB.US.md) - [FETH.US](https://longbridge.com/en/quote/FETH.US.md) - [ETHW.US](https://longbridge.com/en/quote/ETHW.US.md) - [ETHA.US](https://longbridge.com/en/quote/ETHA.US.md) - [EZBC.US](https://longbridge.com/en/quote/EZBC.US.md) - [QETH.US](https://longbridge.com/en/quote/QETH.US.md) - [HOOX.US](https://longbridge.com/en/quote/HOOX.US.md) - [03042.HK](https://longbridge.com/en/quote/03042.HK.md) - [03430.HK](https://longbridge.com/en/quote/03430.HK.md) - [BITO.US](https://longbridge.com/en/quote/BITO.US.md) - [BTCE.DE](https://longbridge.com/en/quote/BTCE.DE.md) - [03008.HK](https://longbridge.com/en/quote/03008.HK.md) - [HOOW.US](https://longbridge.com/en/quote/HOOW.US.md) - [HOOI.US](https://longbridge.com/en/quote/HOOI.US.md) - [HODU.US](https://longbridge.com/en/quote/HODU.US.md) - [HOOY.US](https://longbridge.com/en/quote/HOOY.US.md) - [BTF.US](https://longbridge.com/en/quote/BTF.US.md) - [HOOG.US](https://longbridge.com/en/quote/HOOG.US.md) - [ROBN.US](https://longbridge.com/en/quote/ROBN.US.md) - [HOOZ.US](https://longbridge.com/en/quote/HOOZ.US.md) - [HOYY.US](https://longbridge.com/en/quote/HOYY.US.md) - [ETHT.US](https://longbridge.com/en/quote/ETHT.US.md) - [ETHU.US](https://longbridge.com/en/quote/ETHU.US.md) - [ETU.US](https://longbridge.com/en/quote/ETU.US.md) - [ETHD.US](https://longbridge.com/en/quote/ETHD.US.md) - [ETQ.US](https://longbridge.com/en/quote/ETQ.US.md) - [SETH.US](https://longbridge.com/en/quote/SETH.US.md) - [YETH.US](https://longbridge.com/en/quote/YETH.US.md) - [ETHHKD.VAHK](https://longbridge.com/en/quote/ETHHKD.VAHK.md) - [BTCHKD.VAHK](https://longbridge.com/en/quote/BTCHKD.VAHK.md) - [BTCUSD.VAHK](https://longbridge.com/en/quote/BTCUSD.VAHK.md) - [ETHUSD.VAHK](https://longbridge.com/en/quote/ETHUSD.VAHK.md) - [BLK.US](https://longbridge.com/en/quote/BLK.US.md) - [BTX.US](https://longbridge.com/en/quote/BTX.US.md) - [BIT.RT*.US](https://longbridge.com/en/quote/BIT.RT*.US.md) - [BDJ.US](https://longbridge.com/en/quote/BDJ.US.md) - [BSTZ.US](https://longbridge.com/en/quote/BSTZ.US.md) - [BIT.RT.US](https://longbridge.com/en/quote/BIT.RT.US.md) ## Related News & Research - [SharpLink CEO Warns Against New Ethereum Network Proposal EIP-8363](https://longbridge.com/en/news/295307613.md) - [Bitcoin Bridge Halts All Swaps Indefinitely After AI Tools Outpace Security Fixes](https://longbridge.com/en/news/294982995.md) - [Satsuma Technology to Return £30.7m After Liquidating Bitcoin Treasury and Plans Delisting](https://longbridge.com/en/news/294846106.md) - [Ethereum: Glamsterdam upgrade lands - Aug 2026](https://longbridge.com/en/news/294720883.md) - [Bitcoin Payment Tool BTCPay Urges Update After Attackers Steal Funds](https://longbridge.com/en/news/295299542.md)