ETH/BTC ETF Flow Ratio Rotation
Ratio of cumulative ETH ETF flows to BTC ETF flows. Above 0.15 indicates ETH momentum capturing institutional rotation away from BTC dominance; below 0.05 indicates BTC reasserting dominance. Useful to time relative rotation between the two largest crypto assets within institutional ETF wrappers.
What is it?
This ratio compares the cumulative capital flows into US Ethereum spot ETFs to those into US Bitcoin spot ETFs. The formula is cumulative_ETH_ETF_USD / cumulative_BTC_ETF_USD, clipped to a 0-1 range. Above 0.15 indicates ETH momentum capturing institutional rotation away from BTC dominance; below 0.05 indicates BTC reasserting dominance. The metric captures relative rotation between the two largest cryptoassets within institutional ETF wrappers, reflecting allocator preference shifts.
How to read
The horizontal axis is time. The vertical axis is the cumulative flow ratio bounded 0 to 1. Threshold zones at 0.05 (BTC dominance) and 0.15 (ETH momentum) frame the regime boundaries. The line typically oscillates within 0.05-0.20 across cycles, reflecting the structural BTC dominance complemented by periodic ETH rotation phases. The BTC overlay on the right axis can be toggled to evaluate whether rotation phases coincide with price action regimes.
Key zones
• Above 0.30: extreme ETH momentum, historically rare • 0.15-0.30: ETH momentum regime, institutional rotation toward Ethereum • 0.05-0.15: balanced regime, both assets capturing flows • 0.02-0.05: BTC dominance regime, Ethereum capturing minimal share • Below 0.02: extreme BTC dominance, Ethereum nearly disregarded
What to observe
• Crossings of 0.15 from below as ETH rotation phase entry markers • Crossings of 0.05 from above as BTC dominance reassertion markers • Sustained ratios above 0.20 as ETH momentum maturity indicators • Confluence with ETH/BTC price ratio - ETF flow ratio leading the price ratio suggests informed institutional rotation • Decoupling between flow ratio and price ratio as institutional vs retail divergence indicator
Historical context
ETH ETF spot products launched in the United States on July 23, 2024 following SEC approval in May 2024, six months after BTC spot approval. The initial post-launch flows were modest with the ratio sitting around 0.02-0.05 reflecting BTC's structural dominance. By late 2024, the ratio expanded toward 0.10-0.15 as institutional allocators built ETH positions. The early 2025 cycle correction saw the ratio compress toward 0.05 as redemption pressure favored BTC over ETH. The methodology only computes meaningfully from July 2024 onwards (ETH ETF launch), with prior values undefined.
Expert notes
The cumulative flow ratio differs from a daily flow ratio - it captures persistent allocation rather than tactical rotation. Couple with the ETH/BTC price ratio for cross-validation. The 0-1 clipping ensures the metric remains bounded even during anomalous flow periods. The ratio is sensitive to ETH and BTC ETF launch date asymmetry - BTC has six additional months of cumulative flows. Interpret early ratio values cautiously due to limited historical context.
Common mistakes to avoid
Do not interpret a high ratio as ETH outperforming BTC - flow share differs from price performance. Do not extrapolate the early post-launch values to mature regime - methodology evolves as cumulative flows grow. Do not infer trading opportunities from rotation phases - institutional rotation already prices the relative regime. Do not confuse this metric with daily flow ratio - cumulative flows respond more slowly to recent events.
Programmatic access
REST API
curl -sS \
'https://api.trinityinsights.io/api/v1/macro-intelligence/macro-eth-btc-etf-flow-ratio-rotation/history?days=90' \
-H 'X-API-Key: $TRINITY_API_KEY'MCP server
{
"tool": "get_chart_value",
"metric_id": "macro-eth-btc-etf-flow-ratio-rotation",
"timeframe": "1y"
}Required tier: performance. See the pricing grid for the tier list and the MCP documentation for multi-client configuration.
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Institutional disclaimer
Trinity Insights is an educational and analytical tool. The metric above does not constitute investment advice. Trinity Insights is not a Crypto-Asset Service Provider (CASP) registered under MiCA Regulation (EU) 2023/1114. See the full disclaimer.