- Bitcoin ETFs posted the third-largest inflow ever, fueling a rally toward the $100,000 mark.
- Ethereum ETFs turned positive after eight weeks of outflows, signaling a sentiment shift for ETH.
- ETH/BTC tested 2019 support levels, with analysts warning of continued weakness if trends persist.
US spot Bitcoin and Ethereum ETFs recorded major shifts last week, signaling renewed institutional momentum in crypto markets. At the same time, the ETH/BTC trading pair tested a crucial long-term support level, highlighting growing divergence between the two assets.
Bitcoin ETF Inflows Hit New Highs as Institutional Demand Surges
US spot Bitcoin ETFs recorded a net inflow of 31,323 BTC last week, equivalent to nearly $2.9 billion. This marked the fifth-largest weekly inflow on record, with Glassnode stating in a BTC ETF update that institutional interest remained robust. In dollar terms, the inflow ranked third behind November 18, 2024, and December 2, 2024, highlighting a persistent appetite despite high price levels.
Bitcoin’s price surged following the influx, rebounding strongly toward the $100,000 mark after dipping below $75,000 in March. Glassnode’s data indicated a tight correlation between ETF net flows and price action during the January 2024 to April 2025 period. Periods of sustained inflows consistently aligned with rising Bitcoin prices, reinforcing ETF flows as a core market driver.
Ethereum ETFs Return to Positive Flows After Eight Weeks of Outflows
In the Ethereum ETF report by Glassnode, Ethereum ETFs recorded their first positive inflow after eight consecutive weeks of outflows. Approximately 40,000 ETH were invested in ETF positions, suggesting that sentiment could be turning towards institutional ETH exposure. The price of Ethereum responded modestly, recovering from around $1,800 to the $2,000 price level in improved market conditions.
Emerging evidence points toward shifting dynamics in ETH ETF flows after sustained downward pressure earlier in the year. From February through mid-April 2025, Ethereum experienced net outflows exceeding 100,000 ETH at peak moments. The latest reversal marks a critical inflection point, although broader price strength remains contingent on sustained buying.
ETH/BTC Pair Tests Long-Term Support Levels in Comparative Analysis
Bitcoinsensus identified a major structural test on the ETH/BTC chart as the pair retested critical 2019 support levels. Analysts noted that Ethereum’s value against Bitcoin has declined steadily since mid-2022 without a clear reversal pattern forming. Volume analysis also showed muted participation, further reinforcing the prolonged relative weakness of ETH compared to BTC.
Stakeholders are also evaluating the broader implications of Bitcoin dominance over Ethereum as ETF participation reshapes crypto capital flows. Industry analysts have flagged notable concerns about ETH’s ability to defend its historical support zone if pressure persists. Changing regulatory frameworks have intensified discussions around future ETF flows and their impact on altcoin valuations.
