According to The Block data, the market cap ratio of ETH to BTC has fallen to 24.52%, the lowest level since April 2021 and a significant decrease from 32.7% in early 2024. It is reported that the indicator is a measure of the relative market sentiment and capital flows between the two major assets of cryptocurrencies. The decline reflects the growing dominance of bitcoin in terms of price performance and institutional interest, especially as investors continue to accept cryptocurrencies through ETF products. Traditional financial firms have shown a clear preference for bitcoin, with IBITs and other bitcoin ETFs attracting large inflows, while Ethereum ETFs have received relatively little interest.