ETH is experiencing its best-performing month since 2024, with a 50% monthly return.
In May 2025, BTC has a return of 15%, while ETH has a return of 51%, resulting in a return spread of 36%. As you can see, this has been a rare case after the launch of BTC and ETH ETFs. Since 2024, BTC has outperformed ETH 13 out of 17 times.
On a daily return basis, ETH has been underperforming BTC 50%+ on most month except May, where ETH has outperformed BTC in 55% of the days.
What has changed?
1. Clearer Direction for Ethereum:
- EF has been more involved in helping Builders, L2s, and institutions to onbo