Ethereum Outpaces Bitcoin in Fund Balance Recovery: Can It Return to Its Previous Peak?

The amount of Ethereum held in funds has risen about 24% from its July low, nearing its previous peak, while Bitcoin’s recovery over the same period was limited to 6–7%.

Balances of both Bitcoin and Ethereum are growing again across ETFs tracked by CryptoQuant, trust-based funds, and other investment vehicles. However, compared with July’s lows, Ethereum has seen a stronger recovery.

The amount of ETH in funds rose from approximately 5.45 million to 6.70–6.77 million. This added 1.25–1.32 million ETH to balances, bringing the increase to 23–24%. On the Bitcoin side, the total rose from approximately 1.235 million BTC to 1.31–1.32 million BTC, an increase of 75,000–85,000 BTC.

Ethereum Nears Its Previous Peak in Fund Balances

Ethereum fund balances are nearing their October 2025 peak, while Bitcoin remains below both its peak from the same period and the high it reached during the recovery in May. Ethereum has therefore recovered a larger share of the amount it lost from fund balances during the previous downturn.

The measurement is based on the number of coins held, not their dollar value. Therefore, the growth in balances shows that funds hold more BTC and ETH. The analysis links this picture to a recovery in institutional and individual investors’ demand for crypto investment through funds.

Which Data Is Being Watched for the Recovery to Continue?

CryptoQuant highlights fund balances continuing to grow during price pullbacks, positive fund flows, and buying demand in the spot market. Fund balances once again exceeding their previous peaks is seen as a development that would support the view that the recovery is strengthening.

Rising fund balances can remove some of the market’s available supply; according to the analysis, these purchases must continue to offset other selling for a sustained rally. Renewed outflows from funds are seen as the main risk that could weaken this support.