QCP 资本指出，ETH 在现货 ETF 持续净流入推动下逼近 4000 美元，七日资金流入连续超越 BTC，而 ETH 市值仅为 BTC 的五分之一。尽管 BTC ETF 流入放缓，其价格依旧稳健，上周五 8 万枚 BTC 抛售亦被快速吸收。当前市场杠杆偏高，ETH 和 BTC 永续未平仓量接近一年高点，资金费率超 15%，部分大户已开始获利了结并配置下行对冲。

<div>QCP 资本指出，ETH 在现货 ETF 持续净流入推动下逼近 4000 美元，七日资金流入连续超越 BTC，而 ETH 市值仅为 BTC 的五分之一。尽管 BTC ETF 流入放缓，其价格依旧稳健，上周五 8 万枚 BTC 抛售亦被快速吸收。当前市场杠杆偏高，ETH 和 BTC 永续未平仓量接近一年高点，资金费率超 15%，部分大户已开始获利了结并配置下行对冲。<br><br></div>

ETH 逼近 4000 美元，现货 ETF 资金持续流入超 BTC

QCP Capital points out that ETH is approaching $4,000, driven by continuous net inflows in spot ETF, with seven-day capital inflows consistently surpassing <BTC>, while ETH's market value is only one-fifth of <BTC>. Despite slowing inflows for <BTC> ETF, its price remains stable, and the sale of 80,000 <BTC> last Friday was quickly absorbed. Currently, market leverage is high, with ETH and <BTC> perpetual open interest near a one-year peak, funding rates exceeding 15%, and some large investors have started to take profits and configure downside hedges.

<div>QCP Capital points out that ETH is approaching $4,000 driven by continuous net inflows in spot ETF, with seven-day capital inflows consistently surpassing BTC, while ETH's market value is only one-fifth of BTC's. Despite BTC ETF inflows slowing down, its price remains stable, and the sale of 80,000 BTC last Friday was quickly absorbed. Currently, market leverage is high, with ETH and BTC perpetual open interest near a one-year peak, funding rates exceeding 15%, and some large investors have started to take profits and configure downside hedges.<br><br></div>

ETH is approaching $4,000, and spot ETF funds continue to flow in more than BTC

According to SoSoValue data, during last week's trading days (Eastern Time, July 21 to July 25), Bitcoin spot ETFs had a net inflow of $72.06 million, continuing seven consecutive weeks of net inflows. The Bitcoin spot ETF with the highest weekly net inflow was BlackRock's <IBIT>, with a weekly net inflow of $268 million, and its historical total net inflow has now reached $57.24 billion.

Bitcoin spot ETFs had a net inflow of $72.06 million last week, continuing to see net inflows for seven consecutive weeks.

<华尔街>Wall Street</华尔街> legendary strategist-led crypto asset company BitMine has loaded 560,000 ETH into its strategic reserves, becoming the most ambitious institutional token holder in the ETH ecosystem.

On July 28 Beijing time in the afternoon, ETH price broke through the $3,940 mark, reaching a new high since 2025, with a surge of 51% from the beginning of the year, far exceeding Bitcoin's 12% increase during the same period. This price is just a step away from the 2024 high of $4,100 and only about 22% away from the historical peak of $4,800 set in 2021.

Ethereum breaks through $3,940 to hit a new high in 2025, only 22% away from its historical high. Tom Lee leads institutions to bet on trillion-dollar stablecoin dividends

PANews news on July 28, OKX market data shows that ETH has just broken through $3,900, currently trading at $3,902.56 per coin, with a daily increase of 2.18%.