The influx of capital from large investors into the crypto market after the market bottomed in February last year has shown a stark disparity between the two major crypto assets, Bitcoin (BTC) and Ether (ETH).
While Bitcoin consolidates its recovery, “Ether is struggling to regain institutional confidence,” said Ignacio Moreno de Vicente, a Spanish analyst at CryptoQuant Data Platform, in a report analyzing exchange-traded fund (ETF) activity published yesterday, May 7, 2026.
This divergence comes after a period of high volatility in the global digital asset market. After reaching an all-time high of $126,000 on October 6, 2025, Bitcoin price began a significant correction. This bearish trend culminated on February 6, 2026, when the currency reached the lowest point of the cycle at $60,000, down 50% from its all-time high.
After that market crash, capital A return to ETFs has begun, albeit unevenly between the two assets..
Moreno de Vicente emphasizes that “one of the clearest structural differences within digital assets is revealed through behavioral indicators of fund holdings.” This tool measures the total amount of coins held by institutional investors such as exchange-traded funds (ETFs), trusts, and other regulated funds. It actually serves as an indirect indicator of demand from large investors on Wall Street.
Bitcoin investment funds and financial products from the low reached on February 6 to the present They increased their reserves from 1.27 million BTC to 1.37 million BTC. As seen in the graph, this net accumulation of 92,000 BTC represents a 7.2% increase in confidence in the currency.
In contrast, Ether, the cryptocurrency of the Ethereum network created by Vitalik Buterin, experienced a trend of capital outflows from ETFs during the same period analyzed. Ether-based fund holdings decreased from 5.93 million ETH to 5.8 million ETH. This 127,000 ETH decrease corresponds to a 2.1% decrease in institutional exposure..
“What makes this particularly interesting is not just the divergence itself, but the relationship between the holdings and the price movement,” Moreno de Vicente said, stressing that the market recovery is largely in line with the direction of these positions.
For analysts, “this suggests that institutional positions are not only reacting to price movements, but may also be actively participating in shaping the market structure.” Under this premise, BTC accumulation accelerates, while ETH shows clear signs of hesitation among its administrators.
“Bitcoin continues to strengthen its position as the macro reserve asset, the deepest liquidity, and the strongest ETF narrative,” the expert argues. In contrast, ether tends to be perceived as a higher risk allocation. In times of doubt, “many funds appear willing to reduce their ETH exposure first while maintaining or rebuilding positions in BTC as the safest allocation.”
Despite this caution against Ether, CriptoNoticias reported that companies like CoinShares maintain an optimistic stance in the long term. In an analysis published on May 5, 2026, the administrator stated that ETH is an “early investment opportunity.” They argue that few investors value support for infrastructure and digital finance, which is becoming a “key component of the future global financial system”.
(Tag translation) Bitcoin (BTC)
