In The Midst Of Bitcoin’s Decline, Ethereum Reaches A Record High On Its ETPs.

The crypto market, usually volatile, seems to have stalled. Bitcoin hovers around $103,000, well above $100,000, but far from its recent peaks. Ethereum, meanwhile, caps under $2,800. Yet, behind this slow facade, institutional flows tell another story. Listed crypto products are heating up. The scene has not disappeared; it has simply changed its setting. And Ethereum has just taken the lead role.

Ethereum attracts capital: crypto in the spotlight

This week, Ethereum surprised the market to the point of announcing an altseason 250 times more powerful. ETH-backed ETPs recorded $321 million of net inflows, an unmatched peak since December 2024. In contrast, Bitcoin-related products lost $8 million, while XRP saw $28 million flee.

Why Ethereum? The recent approval of ETH spot ETFs has reignited institutional interest. Its DeFi ecosystem remains a magnet for capital, and its technical structure reassures.

Ryan Lee, Chief Analyst at Bitget Research, sheds light on this strategic moment:

Ethereum, holding just below its resistance at $2,738, trades within a range between $2,200 and $2,800. On-chain data reveals more than 67% of holders are profitable, showing stable conviction, although the bullish momentum seems capped as long as Ethereum does not clearly surpass $2,810.

This stability inspires confidence and redraws the hierarchy among dominant cryptos.

Bitcoin ETFs falter: resilience and turbulence

While Ethereum shines, Bitcoin ETFs show signs of fatigue. After six weeks of steady inflows, May 30 marked a turning point. The BlackRock iShares Bitcoin Trust recorded a record outflow of $430.8 million, its worst day since launch. The day before, all 11 US Bitcoin ETFs already endured $346.8 million in withdrawals. Yet, iShares performed better than its peers, gathering $790 million over the week.

Despite this, its AUM slipped from $74.8 to $72.9 billion. Meanwhile, 21Shares and ARK Invest recorded net losses of $282 million, reinforcing the idea of a transitioning market.

These outflows reflect less panic than strategic rotation. Profit pockets have been taken, and positions shifted to assets seen as more promising in the short term. Crypto remains resilient, but under pressure.

Crypto: bifurcation or just a breather?

Between Ethereum’s breakthrough and Bitcoin’s outflows, the crypto market gives an impression of repositioning. June, historically a month of moderate volatility, opens with mixed signals. Michaël van de Poppe anticipates a decisive week:

If Bitcoin breaks above $106,000, the party could start.

He adds: “As long as Ethereum holds its supports, the rise can continue.”

This play of technical thresholds coincides with the publication of major economic data (PMI, unemployment) that will likely influence trends.

Here are the key figures to remember this week:

• $321 million net inflows for Ethereum ETPs;
• $430.8 million outflow from BlackRock’s Bitcoin ETF in one day;
• 67% of Ethereum holders currently in profit;
• $790 million inflows for iShares ETFs despite a decline in their AUM.

These figures sketch a new paradigm: Ethereum gains weight, Bitcoin looks for a second wind. ETFs and ETPs become essential barometers to read institutional movements and anticipate major crypto trends.

Seeing Ethereum temporarily take precedence over its elder makes perfect sense. Just after Trump’s inauguration, a colossal influx of $1.9 billion was recorded on ETH. The signal is clear: institutional investors have indeed found their new crypto playground.

Mikaia A.

La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.