JPMorgan: Bitcoin Pulls Ahead as Institutional Base Layer 🏦₿
Institutional Flows Favor BTC 📊
⏭️ JPMorgan says Bitcoin has decisively pulled ahead of Ethereum on institutional flows.
⏭️ Since the Oct 2025 deleveraging, spot BTC ETFs recovered ~2/3 of outflows vs only 1/3 for spot ETH ETFs.
⏭️ CME BTC futures exposure is nearly fully restored; ETH futures positioning remains well below prior levels.
2. Ethereum Lags on Activity 📉
⏭️ Analysts led by Nikolaos Panigirtzoglou argue ETH needs “meaningful improvement” in network activity, DeFi, and real-world use to close the gap.
⏭️ Despite upgrades, DeFi volumes, TVL, users, and fees haven’t shown sustained growth.
⏭️ Lower base-layer fees also cut ETH burns, weakening the “ultra-sound money” narrative.
3. Altcoins Face Confidence Issues 🪙
⏭️ Thinner liquidity, low order-book depth, and security incidents are weighing on altcoins.
⏭️ JPMorgan says these factors eroded confidence and discouraged fresh institutional capital.
⏭️ BTC benefits from being seen as the “safer” macro and regulatory bet.
4. Upgrades Alone Won’t Cut It ⚠️
⏭️ JPMorgan’s view: ETH won’t outperform unless it reignites on-chain activity in DeFi, RWAs, and non-speculative use cases that drive fees and token demand.
⏭️ Without that, BTC is set to keep leading on price and institutional inflows.
Bottom Line 🎯
➖Bitcoin is now the go-to base layer for institutions. Ethereum needs a real rebound in usage and fees to win back capital.
#️⃣
#bitcoin #Ethereum✅ #JPMorganBitcoin #Altcoins
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