According to recent Wall Street analysis reports and market data from the last month (July 18 to August 18, 2025), the cryptocurrency market has shown a strong rebound, with total market cap rising from $3.7 trillion in July to over $4 trillion, mainly driven by ETH-led gains. The report is generally optimistic about ETH's long-term potential, considering its status as the infrastructure for the "digital asset internet" is attracting institutional capital, while BTC remains strong but performs relatively modestly compared to ETH. Below is a summary of key reports and data, categorized by institution or source, and using a table to highlight the comparative performance of BTC and ETH.

Main Reports and Insights

  • JPMorgan (Report dated August 14, 2025): The crypto market's market cap grew 14% in July to $3.7 trillion, with ETH's market cap soaring 49%, far exceeding BTC's 8%. ETH's strength is attributed to strong inflows into the US spot ETH ETF (net inflow of $5.4 billion), total ETH ETP assets reached $21.5 billion; BTC spot ETF inflows of $6 billion, total assets reached $152 billion. The report emphasizes that ETH's DeFi, NFT, and TradFi partnerships drove the rebound and mentioned that the GENIUS Act and crypto IPO pipeline have enhanced market optimism. Overall, JPMorgan believes ETH is poised for "explosive growth," benefiting from the growth of stablecoins and network TVL improvements.

  • Crypto.com Monthly Update (August 6, 2025): BTC rose 10% in July, with a YTD increase of 26%; ETH rose 53%, with a YTD increase of 14.1%. ETH is viewed as a "bond asset" and source of income, with a record net inflow of $5.4 billion into the spot ETH ETF (growing faster than BTC ETF, with AUM growth of 120% vs. BTC's 14%). The report notes rising institutional adoption of ETH and mentions Bridgewater's founder Ray Dalio suggesting a 15% allocation of portfolios to BTC or gold (a significant increase from the 1-2% BTC suggestion in 2022) to hedge against US debt risks.

  • VanEck (Bitcoin Chain Check dated July 24, 2025): In mid-July, ETH ETP inflows reached $2.2 billion (30% of its historical total inflows), leading to a sharp rise in the ETH/BTC ratio. BTC's price has retreated from the June peak, but the rotation effect of ETH is evident. VanEck emphasizes that ETH's staking yield and network effects make it the institutional choice.

  • Seeking Alpha (Analysis dated August 17, 2025): BTC lacks momentum, while ETH is "stealing the spotlight"; recommends holding iShares Bitcoin Trust (IBIT) but warns of short-term downside risk (potential drop of 10% to $61). ETH's relative strength (including staking yield and DeFi dominance) makes it a high-beta growth asset, while BTC resembles a stable asset. Long-term outlook on BTC is positive, but short-term preference is for ETH.

  • Other Wall Street Views and Predictions:

    • Fundstrat's Tom Lee: ETH is experiencing a "Bitcoin 2017 moment," predicting a rise to $7,000-$16,000 by 2025, driven by stablecoins and tokenization. Wall Street is rushing towards ETH to build decentralized finance and AI token economies.

    • Bloomberg Analysts: The ETH ETF has become the second-fastest ETF in history to reach $10 billion, potentially attracting the most inflow in August. ETH's positioning as the "digital asset internet" surpasses BTC's "digital gold" designation, with institutions acquiring 1% of circulating ETH.

    • CoinShares: Weekly inflows into crypto investment products totaled $3.75 billion, mainly dominated by ETH.

    • Price Predictions: ETH is near historical highs, potentially breaking through $4,800-$5,000 soon, even reaching $6,000; BTC is fluctuating in the $115,000-$124,000 range but is affected by profit-taking.

BTC vs ETH Performance Comparison (Based on July Data)

Key indicators presented in a table for easy comparison:

Indicators BTC ETH

July Increase +8% to +10% +49% to +53%

YTD Increase +26% +14.1%

ETF Net Inflows (July) $6 billion $5.4 billion

Total ETP Asset Scale $152 billion $21.5 billion

Trading Volume Growth (July) +15% +60%

Lack of short-term momentum, potential seasonal correction; institutional rotation preferred, forecasting explosive growth

Risk Factors: Increasing volatility influenced by VIX; L2 expansion may dilute L1 value capture

Overall, the report consistently concludes that ETH leads BTC in institutional adoption and practicality, with Wall Street viewing ETH as the "invisible pillar" of traditional finance.

Analysis of Wall Street's Capital Preference Compared to US Tech Stocks

Wall Street's capital still mainly focuses on US tech stocks (like the Magnificent Seven: Apple, Microsoft, Nvidia, Amazon, Meta, Google, Tesla), but data from 2025 shows that capital is accelerating its rotation towards cryptocurrencies (especially BTC and ETH). The crypto market has outperformed tech stocks in terms of returns and institutional inflows, indicating Wall Street's inclination is shifting from tech stocks to crypto, although the total capital scale of tech stocks still far exceeds that of crypto (total US stock market value over $50 trillion vs. crypto $4 trillion).

Key Comparative Data

  • Inflows: Strong inflows into crypto ETFs—$35 billion YTD into BTC ETF, $5.4 billion into ETH ETF in July alone, with weekly inflows of $3.75 billion (mainly dominated by ETH). In contrast, US tech ETFs (like Nasdaq 100 or Mag7 ETF) lack specific inflow data for July-August, but the overall US stock market was driven by AI enthusiasm in July, with S&P 500 +2.28%, Nasdaq +4.55%. Institutional inflows into crypto in Q1 reached $21.6 billion, accounting for 40-45% of private equity firm exposures.

  • Returns: BTC +24% YTD in 2025, ETH +14.1%, far exceeding S&P 500's +7%. Mag7 stock performance varied: Nvidia +19.2%, Meta +23.1%, but Apple -16.1%. Crypto rebounded in July while tech stocks remained relatively flat, indicating capital shifting from tech to crypto.

  • Correlation and Rotation: Correlation between crypto and tech stocks weakened in 2025—BTC/ETH rose in July while tech stocks remained flat. Wall Street views BTC as a hedge asset and ETH as a high-beta growth play (similar to tech stocks but with higher volatility). Institutions like Blackstone are buying ETH at a rate 3-15 times that of BTC, indicating a rising preference for crypto.

  • Overall Trend: Wall Street capital is leaning towards increasing crypto allocations (institutions trust ETH's staking and DeFi), but tech stocks remain core (strong profit growth expected in 2025). If regulatory conditions continue to be favorable, crypto may continue to attract more capital rotation; in the short term, crypto has higher volatility but greater return potential.