NEW YORK — Ethereum extended its multi-month underperformance against Bitcoin in late July 2026, as institutional capital shifted toward Bitcoin products and reduced Layer-1 gas fees continued to undermine Ether’s token burn dynamics. Data from CoinShares and CoinGlass shows the ETH/BTC ratio hovering near 0.029, remaining down roughly 20% year-to-date while spot Ether ETF flows […]