According to @MilkRoadDaily, @avichal of Electric Capital states that BTC is a store of value and ETH is where the future of global capital markets will be based, source: @MilkRoadDaily. This frames a trading thesis that separates BTC as digital store-of-value exposure and ETH as the programmable base layer for capital markets infrastructure, source: @MilkRoadDaily. Allocation decisions following this thesis would treat BTC as macro SoV exposure and ETH as growth and utility exposure tied to tokenized assets and on-chain finance, as characterized by the source, source: @MilkRoadDaily.

According to @MilkRoadDaily, ETH ETFs attracted $5B of inflows in July, nearly matching BTC for the first time, highlighting accelerating institutional demand via digital asset treasuries buying billions in ETH; traders should watch ETF net flows as a near-term liquidity driver for ETH. Source: @MilkRoadDaily (X, Aug 12, 2025). According to @MilkRoadDaily, Electric Capital co-founder Avichal characterizes this setup as a potential "ETH 2019 BTC moment," signaling a possible cycle inflection that makes the ETH/BTC relative trend and sustained ETF subscriptions critical trading monitors. Source: @MilkRoadDaily (X, Aug 12, 2025).

According to Vitalik Buterin, a chart from 0xstark and Electric Capital understates Ethereum's success by listing Layer 2 solutions (L2s) as separate categories. Despite this, Ethereum still performs impressively, showcasing its robust position in the market.

According to Vitalik Buterin, a recent chart from 0xstark and Electric Capital understates Ethereum's success by listing Layer 2 solutions as separate categories. Despite this categorization, Ethereum's performance remains impressive.