Ethereum is outperforming Bitcoin when it shouldn’t be — what’s driving it?

Ethereum is currently outperforming Bitcoin, evidenced by its 18% rise since March compared to Bitcoin's 13% gain, despite macroeconomic pressures like rising oil prices that typically favor Bitcoin as a hedge. This divergence suggests capital is flowing into Ethereum-specific themes, driven significantly by institutional demand. Spot ETH ETFs saw strong net inflows last week, and new products like BlackRock's staking ETF are providing traditional finance investors with yield-generating exposure. Furthermore, corporate buyers like BitMine are aggressively accumulating ETH for their treasuries. Speculative interest is also returning measuredly, with leverage rebuilding gradually after a recent crash. Fundamentally, Ethereum's network activity is strong, poised for its best quarter in over a year, and its monetary policy is tighter than Bitcoin's, with annualized supply growth at 0.24% versus Bitcoin's 1.28%. This combination of institutional adoption, new investment vehicles, and robust network usage is supporting ETH's relative strength.

(Source：CryptoSlate)