While ETF money moved toward , futures traders leaned into Ethereum. Aggregate 24-hour Ethereum futures volume reached $49.4 billion, topping Bitcoin’s $42.9 billion, per Coinanalyze data. The split points to different vehicles driving each asset: cash ETFs for BTC and derivatives for ETH.
Meanwhile, according to the reports, Ethereum-based funds experienced net outflows this month despite Bitcoin ETFs gaining subscriptions. The divergence highlights a rotational trade in which some investors prefer BTC exposure ahead of key macro events.
Rotation was evident in price action. The rise in Bitcoin since Tuesday, when it dropped below the $110,700 mark, was accompanied by an increase in ETF inflows. The traders also tracked the possibility of prolonged demand for funds to prolong the spot momentum.
This shift may suggest a capital rotation, as institutional investors might want to reposition their Bitcoin holdings before major macroeconomic events. With Bitcoin’s decline in dominance, the share of total trading volume controlled by altcoins has now increased to 50%, up from 40% in recent weeks. This movement indicates a growing interest in altcoins, even though Bitcoin still leads ETF inflows.