This week, although IBIT is the flagship product in the market, the inflow of funds into BlackRock's Ethereum ETF has surpassed that of its Bitcoin ETF. As the price of Bitcoin approaches historical highs, the inflow of funds into the Bitcoin ETF has started to slow down, while the Ethereum ETF continues to show steady growth. This trend indicates a rising institutional interest in Ethereum (ETH), leading to a decline of over 5% in Bitcoin's market dominance in July. Notably, a senior executive at BlackRock recently left to join an Ethereum treasury project.

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