Ethereum is gaining popularity among institutional investors as evidenced by record ETF inflows. At the same time, the ETH/BTC pair is forming a bullish triangle, signaling potential breakout.
ETH/BTC Triangle Near Key Resistance
The ETH/BTC pair is forming a bullish ascending triangle, with support steadily increasing. Resistance is marked near 0.02650 BTC. CryptoBoss analyzes that the chart demonstrates a 'strong bullish structure' with rising demand. Current price consolidation is around 0.02423 BTC, showing that demand for Ethereum continues to rise.
Ethereum ETF Inflows Reach Records
Institutional interest in Ethereum has significantly increased, as evidenced by record inflows into ETFs. According to Lookonchain, on June 12, Ethereum ETFs registered +76,694 ETH. iShares (BlackRock) led the inflows with +58,112 ETH, increasing its assets to 1.61 million ETH. Other funds like Fidelity and Bitwise also showed significant increases. The total assets in Ethereum ETFs now stand at 3.91 million ETH.
Slower Growth of Bitcoin ETFs Amid Market Divergence
While Ethereum ETFs show significant growth, Bitcoin ETF net flows were only +1,413 BTC. BlackRock led the addition of +1,204 BTC, bringing total assets in Bitcoin ETFs to 1.21 million BTC. Some funds, such as Grayscale, experienced outflows, highlighting the divergence in growth between Bitcoin and Ethereum.
The rise in institutional investment in Ethereum and the formation of a bullish triangle in the ETH/BTC chart create potential conditions for future breakouts. The competition between Ethereum and Bitcoin ETFs also highlights changing trends in the cryptocurrency market.
