Ethereum is quietly entering the phase that Bitcoin just exited — and very few are paying attention.

Spot Ethereum ETFs saw $240M in net inflows yesterday, outperforming Bitcoin’s $164M.

That marks 18 consecutive days of positive flows — a streak even Bitcoin didn’t sustain this long.

This isn’t just short-term momentum.

It’s structural.

-> BlackRock led the charge with $163M into ETHA

-> Fidelity, Bitwise, and Grayscale followed with consistent inflows

-> $ETH derivatives volume topped $106B, outpacing Bitcoin’s $80B

-> Meanwhile Ethereum’s Pectra upgrade is quietly making L2s faster and cheaper

At the same time, regulators are signaling a shift.

SEC Chair Paul Atkins openly endorsed the right to self-custody, calling it a “foundational American value.”.

That may sound symbolic — but it’s not.

It’s a green light for protocols that empower users through DeFi, staking, and Ethereum’s ecosystem.

We’re seeing a perfect storm:

+ Institutional validation via ETFs

+ Regulatory tone warming toward DeFi

+ A massive yield and dev ecosystem BTC doesn’t have

+ ETH/BTC pair showed strength.

Most are still framing $ETH as "the laggard."

But what if it's just entering the repricing phase $BTC went through post-ETF?

This isn’t just catch-up.

It’s Ethereum transitioning from a tech asset to a macro one, with the infrastructure, liquidity, and legitimacy to back it up.

And the flows are telling you that revaluation has already started.