Recent data reveals a significant surge in Ethereum inflows, reaching close to $0.9 billion per day, a figure that closely mirrors Bitcoin’s daily inflows. This development is attributed to strategic moves by BitMine Immersion Technologies and substantial shifts in holdings among large whales. 0n-chain analyst Willy Woo noted this increase: ‘Flows into ETH are approaching BTC’s inflows (orange) – peaking at $0.9B USD per day. This climb started when Tom Lee’s ETH treasury company, BitMine, began accumulating Ethereum.’ These actions have impacted market dynamics. Ethereum’s market share and staking activity have increased as Bitcoin’s dominance has waned. The momentum is further reflected in the performance of Ethereum-related ETFs. They show contrasting trends compared to the observed outflows from Bitcoin.