ETH Balances Outpace BTC in Post-Drawdown Recovery Ethereum fund holdings have bounced back more sharply than Bitcoin since the market's July drawdown, according to on-chain data reviewed by
Ethereum fund holdings have bounced back more sharply than Bitcoin since the market's July drawdown, according to on-chain data reviewed by CryptoQuant analyst Moreno DV. Tracked Ethereum native balances rose by roughly 1.25 million to 1.32 million coins, bringing total fund holdings to approximately 6.70 million $ETH. Bitcoin fund balances, by comparison, added between 75,000 and 85,000 coins, reaching a range of 1.31 million to 1.32 million $BTC.
The figures track underlying coin balances rather than dollar values, an important distinction. A rising coin count reflects more units held, but it does not automatically confirm that fresh capital is rotating from one asset to the other. Both assets are seeing higher fund exposure, and Moreno DV noted that the data alone does not confirm capital rotation between $BTC and $ETH.
The on-chain trend comes against a backdrop of renewed institutional appetite across both assets. Bitcoin ETFs recorded $6.34 billion in net inflows during Q3 2026, their strongest quarter of the year, while Ethereum ETFs gathered $3.05 billion over the same period, reversing roughly $714 million in Q2 outflows.
In the week ending September 25, investors added $2.4 billion to spot Bitcoin products, while spot Ether ETFs drew $689.9 million over the same stretch. That weekly Ethereum total was the largest since the week ending August 28, leaving the products up approximately $1.6 billion for the year with $17.8 billion in net assets.
Despite the stronger coin-balance recovery in Ethereum, Bitcoin retains a commanding lead in total fund assets. Bitcoin ETFs hold $76.22 billion in assets under management, compared with Ethereum's $9.72 billion, a ratio of more than 7 to 1. That gap means a faster percentage recovery in ETH coin balances does not yet translate to comparable dollar-denominated inflows.
For now, the CryptoQuant data points to a market where both assets are attracting more institutional coverage after a difficult summer, with Ethereum showing a stronger rebound in raw coin terms. Whether that reflects genuine preference for $ETH or simply a catch-up from deeper losses earlier in the year remains an open question.
Sources:The Block: Bitcoin ETFs turn positive for 2026 with $2.4 billion weekly inflowKuCoin: Bitcoin ETFs See $6.34 Billion Inflows in Q3 2026Yahoo Finance: Why Are Ethereum ETFs Outperforming Bitcoin ETFs in 2026?
