Spot Bitcoin ETFs attracted $1.92 billion in net inflows over five business days through around August 21, while spot Ethereum ETFs took in nearly $700 million, or about 36.4% of Bitcoin’s total despite Ethereum’s market capitalization equaling only roughly 18.8% of Bitcoin’s. Inflows accelerated after the U.S. Treasury Department said it would double the maximum size of liquidity-support buybacks for longer-dated government debt to at least $4 billion per operation from $2 billion, lifting risk appetite. Bitcoin rose from below $65,000 to nearly $80,000 and Ethereum climbed from about $1,900 to above $2,500 before cooling, with weekly ETH gains exceeding 28%. Labit Finance founder Jiangzhuoer linked the stronger relative Ethereum ETF demand to ETH’s outperformance of up to 35.9% versus Bitcoin’s 26.6% and pointed to U.S. market-structure legislation and asset tokenization as potential further catalysts for smart-contract chains.