Ethereum has surged 66% in the past month to US$3,732, reaching its highest 2025 level.
US Ethereum ETFs recorded massive inflows of over US$2.1 billion last week, while Bitcoin ETFs experienced net outflows of US$131 million yesterday.
Nearly 519,000 ETH worth US$1.92 billion sits in Ethereum’s validator exit queue, indicating profit-taking behaviour following the cryptocurrency’s 160% rally since April.
These are strange times when Bitcoin sceptics suddenly endorse the largest crypto and recommend allocating to it.
Gold bug Peter Schiff even sent out a tweet read more than two million times, in which he claims that Bitcoin is a better investment than Ethereum, saying, “selling Ether and buying Bitcoin with the proceeds is a better trade than holding Ether”.
When pressed by a commentator on why Schiff favours BTC over ETH, the gold advocate replied that it isn’t a matter of conviction but simply what the charts show, adding that Ethereum faces more competition than Bitcoin:
I think based on the way the tokens are hyped, Ether has more acknowledged competition for the narrative of its use case.
Peter Schiff It’s an interesting turn, because for years Schiff dismissed Bitcoin as a tulip bubble. He often questioned its value as “digital gold” and derided it outright – so seeing him now almost endorse BTC is striking.
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ETH ETFs Hit Record Numbers
Nevertheless, he’s probably wrong to dismiss Ethereum. The second-largest coin has just seen a phenomenal run-up towards US$4k (AU$6k). ETH has rallied 66% over the past month and currently trades at US$3,732 (AU$5,683), its highest level in 2025 so far.
This surge coincides with record inflows into US spot Ethereum exchange‑traded funds (ETFs): over US$2.1 billion (AU$3.2 billion) was added last week, and yesterday alone saw more than US$500 million (AU$760 million) flow in, even as Bitcoin ETFs recorded US$131 million (AU$200 million) in net outflows.
According to some analysts, Ethereum is only just getting started: Bitwise CIO Matt Hougan suggested that the ETH trend remains bullish for now.
Validators Take Profits
Meanwhile, Ethereum’s “exit queue” for validators hit its highest level in over a year on Tuesday, with nearly 519,000 ETH (≈US$1.92 billion or AU$2.92 billion) waiting to leave the network.
This backlog stems from proof‑of‑stake (PoS) limits on how quickly stakers can exit – and reflects profit‑taking after ETH’s rally since April.
As Figment co‑founder Andy Cronk notes, price spikes typically trigger both retail and institutional unstaking to lock in gains – and occasionally coincide with large players shifting custodians or wallet infrastructure.
Related: SpaceX Reactivates Bitcoin Holdings After Three Years, Consolidating $153M in BTC