<h2><strong>关键要点</strong></h2>
<h3><em>以太坊现在比比特币表现更好吗？</em></h3>
<p><em>机构以太坊基金持有量在一年内激增 138%，几乎是比特币 36% 增长的四倍。</em></p>
<h3><em>加密周期接下来可能会发生什么？</em></h3>
<p><em>分析师预计资金将从比特币转向山寨币，以太坊将引领下一轮主要反弹。</em></p>
<hr/>
<p>以太坊 [ETH] 正在抢占比特币 [BTC] 的风头。机构投资者推动以太坊在一年内上涨 138%，这几乎是比特币增速的四倍！</p>
<p>这款王者山寨币不仅仅是替代加密货币的选择。</p>
<h2><strong>以太坊加速前进</strong></h2>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/10/isHJ6bd75_50c934bdb3e951e59313b652977218a7bef911ff0242f3c33f46efe319a7a292.webp?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/10/isHJ6bd75_50c934bdb3e951e59313b652977218a7bef911ff0242f3c33f46efe319a7a292.webp"/></p>
<p>来源：CryptoQuant</p>
<p>比特币在注视着以太坊走出它的阴影。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/10/JF1oU_fdd6ba944f1374c75c6705ebc5131d32ffa00a2715c9cb057fe3971467a456c9.webp?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/10/JF1oU_fdd6ba944f1374c75c6705ebc5131d32ffa00a2715c9cb057fe3971467a456c9.webp"/></p>
<p>来源：CryptoQuant</p>
<p>基金数据显示，以太坊持有量同比激增 138%，达到大约 680 万 ETH。这主要受到现货 ETF 流入、质押收益以及其在 DeFi 和代币化中日益扩大的角色的推动。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/10/XEd581Cz_7ba608bfcce6ca56905da9d4f9300c5b3b117520289ccb20c14a9624667468fb.webp?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/10/XEd581Cz_7ba608bfcce6ca56905da9d4f9300c5b3b117520289ccb20c14a9624667468fb.webp"/></p>
<p>来源：CryptoQuant</p>
<p>比特币继续作为稳定的储备资产，基金持有量温和增长 36%，达到 130 万 BTC。</p>
<p>机构投资者正在调整他们的策略，资金仍在流入比特币，但更加谨慎。相比之下，以太坊的快速增长突显了其当前的突破势头。</p>
<p>而以太坊并不是唯一一个获得关注的山寨币。</p>

ETHE

<p>机构以太坊基金持有量在一年内激增了 138%，显著超过比特币的 36% 增长。分析师预测资金将从比特币转向其他山寨币，以太坊将引领这一潮流。目前，以太坊的持有量约为 680 万，受到现货 ETF 流入和其在去中心化金融（DeFi）中日益扩展的角色推动。与此同时，比特币的持有量 modestly 增加至 130 万 BTC，显示出机构投资者的谨慎态度。以太坊的快速增长暗示着加密市场的突破动能</p>

<h2><strong>Key takeaways</strong></h2>
<div class="lb-trans"><h2><strong>关键要点</strong></h2>
</div><h3><em>Is ETH doing better than BTC now?</em></h3>
<div class="lb-trans"><h3><em>以太坊现在比比特币表现更好吗？</em></h3>
</div><p><em>Institutional ETH fund holdings have surged 138% in a year, nearly four times Bitcoin’s 36% growth.</em></p>
<div class="lb-trans"><p><em>机构以太坊基金持有量在一年内激增 138%，几乎是比特币 36% 增长的四倍。</em></p>
</div><h3><em>What could happen next in the crypto cycle?</em></h3>
<div class="lb-trans"><h3><em>加密周期接下来可能会发生什么？</em></h3>
</div><p><em>Analysts expect capital to rotate from Bitcoin into altcoins, with Ethereum leading the next major rally.</em></p>
<div class="lb-trans"><p><em>分析师预计资金将从比特币转向山寨币，以太坊将引领下一轮主要反弹。</em></p>
</div><hr/>
<div class="lb-trans"><hr/>
</div><p>Ethereum [ETH] is stealing Bitcoin’s [BTC] spotlight. Institutional investors are pushing ETH above and beyond, boosting fund holdings by 138% in a year. This is nearly four times Bitcoin’s pace!</p>
<div class="lb-trans"><p>以太坊 [ETH] 正在抢占比特币 [BTC] 的风头。机构投资者推动以太坊在一年内上涨 138%，这几乎是比特币增速的四倍！</p>
</div><p>The king altcoin is more than just an alternate crypto play now.</p>
<div class="lb-trans"><p>这款王者山寨币不仅仅是替代加密货币的选择。</p>
</div><h2><strong>Ethereum races ahead</strong></h2>
<div class="lb-trans"><h2><strong>以太坊加速前进</strong></h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/10/isHJ6bd75_50c934bdb3e951e59313b652977218a7bef911ff0242f3c33f46efe319a7a292.webp" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/10/isHJ6bd75_50c934bdb3e951e59313b652977218a7bef911ff0242f3c33f46efe319a7a292.webp"/></p>
<p>Source: CryptoQuant</p>
<div class="lb-trans"><p>来源：CryptoQuant</p>
</div><p>Bitcoin is watching as Ethereum steps out of its shadow.</p>
<div class="lb-trans"><p>比特币在注视着以太坊走出它的阴影。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/10/JF1oU_fdd6ba944f1374c75c6705ebc5131d32ffa00a2715c9cb057fe3971467a456c9.webp" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/10/JF1oU_fdd6ba944f1374c75c6705ebc5131d32ffa00a2715c9cb057fe3971467a456c9.webp"/></p>
<p>Source: CryptoQuant</p>
<div class="lb-trans"><p>来源：CryptoQuant</p>
</div><p>Fund data shows ETH holdings have surged 138% year-over-year to roughly 6.8 million ETH. This is heavily driven by spot ETF inflows, staking yields, and its expanding role in DeFi and tokenization.</p>
<div class="lb-trans"><p>基金数据显示，以太坊持有量同比激增 138%，达到大约 680 万 ETH。这主要受到现货 ETF 流入、质押收益以及其在 DeFi 和代币化中日益扩大的角色的推动。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/10/XEd581Cz_7ba608bfcce6ca56905da9d4f9300c5b3b117520289ccb20c14a9624667468fb.webp" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/10/XEd581Cz_7ba608bfcce6ca56905da9d4f9300c5b3b117520289ccb20c14a9624667468fb.webp"/></p>
<p>Source: CryptoQuant</p>
<div class="lb-trans"><p>来源：CryptoQuant</p>
</div><p>Bitcoin continues to serve as a stable reserve asset, with fund holdings rising a modest 36% to 1.3 million BTC.</p>
<div class="lb-trans"><p>比特币继续作为稳定的储备资产，基金持有量温和增长 36%，达到 130 万 BTC。</p>
</div><p>Institutional investors are adjusting their strategies, and capital is still flowing into Bitcoin, but with greater caution. In contrast, Ethereum’s rapid growth highlights its current breakout momentum.</p>
<div class="lb-trans"><p>机构投资者正在调整他们的策略，资金仍在流入比特币，但更加谨慎。相比之下，以太坊的快速增长突显了其当前的突破势头。</p>
</div><p>And Ethereum isn’t the only altcoin gaining traction.</p>
<div class="lb-trans"><p>而以太坊并不是唯一一个获得关注的山寨币。</p>
</div>

以太坊基金持仓量激增了 138%——是否正在进行山寨币轮动？