Ether surged by nearly 8 percent in the last 24 hours, outpacing Bitcoin’s 5 percent increase. Analyzing recent performance, Ether has outperformed Bitcoin by 4 points over the past week and by 9 points over the last month. This widening gap has drawn attention in the crypto markets, with capital rapidly shifting its focus toward Ether.
Record inflows for Ether funds as bitcoin ETFs see outflows
On April 13, spot Bitcoin ETFs in the US recorded a total net outflow of $325.8 million. Of this, $229 million exited Fidelity’s FBTC, while $63 million was withdrawn from ARK’s ARKB fund. These withdrawals signal a visible cooling in ETF-driven demand for Bitcoin, which had been a significant force for the asset in the recent period.
During the same period, Ether funds attracted $7.7 million in daily inflows and $187 million over the past seven days. This marks the strongest weekly inflow recorded in 2026 so far, signaling a reversal after three consecutive weeks of cumulative $308 million in outflows. Total capital now held in Ether funds hit an all-time high of $11.68 billion.
The shift in asset preference among funds highlights a marked short-term increase in investor interest toward Ether. Despite substantial outflows from Bitcoin ETFs, the price of Bitcoin managed to remain stable.
Ethereum transactions surge yet on-chain values slip
The number of daily transactions on the Ethereum network rose by 41 percent from the previous week, hitting approximately 3.6 million. From 2.5 million transactions on April 10, the activity steadily climbed throughout the week. According to Artemis data, Ethereum outpaced other major blockchains for growth in transaction count during this period, with similar spikes occurring only on smaller chains such as Sonic and TON.
The nature of this heightened activity on the Ethereum network, however, has sparked debate. During the same stretch, stablecoin transfer volume on Ethereum fell by 42.6 percent, and transaction fees dropped by 50 percent. This data suggests that while the number of transactions rose sharply, these were predominantly smaller in value, pointing to a decrease in overall economic activity on the network.
Bitcoin’s price stability remains notable on the other side. Despite ongoing ETF outflows, there is steady demand in spot markets, which has helped Bitcoin maintain its robust position.
A weekly report from Glassnode indicates that Bitcoin continues to absorb ETF-related outflows in the short term, with core demand providing ongoing support for the market.
Whether the demand for Ether funds and its on-chain data signals a sustainable trend remains to be seen. Experts suggest that the coming days will determine whether Bitcoin maintains its leading position or if the increased attention toward Ether is merely temporary.
Historically, the greatest surge in Ethereum user activity was observed during the stablecoin boom in the summer of 2025, when the network’s economic throughput reached record levels and Ether prices neared $4,000.
Yet, most recent data shows a divergence: transaction counts on the Ethereum network continue to rise even as the overall value transferred on-chain declines. In other words, while network activity is increasing, the total amount moved is shrinking. The interplay between these two trends will be decisive in determining if the recent Ether rally marks a lasting shift or just a momentary rotation.
