Ethereum (ETH) just had a breakout week as the amount of money flowing into ETH-related investment funds surpassed Bitcoin (BTC) for the first time this year. Data from CoinShares shows that Ethereum funds attracted up to 793 million USD, while Bitcoin only drew in 407 million USD.
Why Is ETH More Attention-Grabbing Than BTC?
This reversal occurred after the price $ETH dropped close to 2,100 USD, prompting many investors to see this as a buying opportunity. Another factor that may contribute to the influx of money into ETH is the attention-grabbing tweet from Eric Trump, son of U.S. President Donald Trump. He wrote:
"In my opinion, this is a great time to buy ETH."
This tweet attracted over 13.6 million views, and although #EricTrump has edited the original content, it still sparked more interest in Ethereum.
Can Ethereum Continue to Rise?
Currently, ETH is trading around 2,670 USD, down 45% from its peak of 4,878 USD in November 2021. Although #ETFEthereum funds in the US have been launched since last July, this cryptocurrency has yet to reach a new high.
Meanwhile, Bitcoin has had a successful year with massive inflows thanks to spot ETF funds. BTC even reached a new peak, particularly after Donald Trump was elected President of the United States. However, in the past week, concerns over Trump's tax policies have caused inflows into Bitcoin ETFs to stagnate.
Not Only ETH, Altcoins Also Attract Capital
Not only Ethereum, but also some major altcoins like XRP and Solana (SOL) are attracting investors' attention. Funds related to $XRP attracted 21 million USD, while $SOL received 11 million USD.
Will Ethereum Lead the Market or Is It Just a Temporary Phenomenon?
The fact that ETH has surpassed BTC in investment inflows could signal a new trend, as investors begin to seek alternatives to Bitcoin. However, it is also possible that this is just a short-term event. Can Ethereum take advantage of this opportunity to break out, or will Bitcoin quickly regain its dominant position? Let's wait and see! 🚀 #anhbacong