TLDR
- US-based Bitcoin ETFs now generate daily trading volumes between $5 billion and $10 billion on active days.
- Bitcoin ETFs have become a significant source of investor exposure to Bitcoin, reflecting growing institutional demand.
- Binance remains the leader in total spot trading volume, with Bitcoin’s daily volume at $4.1 billion.
- Spot Ether ETFs have outperformed Bitcoin ETFs, with $1.24 billion in inflows over the past four days.
- The BlackRock iShares Bitcoin Trust accounts for nearly 40% of Bitcoin ETF inflows this week.
US-based Bitcoin ETFs have become a leading force in the Bitcoin spot market. These funds now regularly generate daily trading volumes of $5 billion to $10 billion on active days. This surge reflects a significant shift as institutional demand for Bitcoin continues to grow, according to CryptoQuant’s research head, Julio Moreno.
Bitcoin Spot Trading Volume Driven by US ETFs
Bitcoin spot trading volumes through US-based ETFs have emerged as a dominant source of investor exposure to Bitcoin. “Bitcoin spot trading volumes through US-based ETFs have become a significant source of investor exposure to Bitcoin,” said Moreno. On active days, these Bitcoin ETFs generate trading volumes as high as $10 billion, often surpassing major crypto exchanges. Binance, however, remains the leader in total spot trading volume. Its total daily volume of $22 billion includes all trading pairs, with Bitcoin’s daily volume of $4.1 billion making up a significant portion.
Despite the prominence of Bitcoin ETFs, their total daily volume still represents only a fraction of Binance’s total. As of now, the 11 US Bitcoin ETFs combined contribute approximately $2.77 billion in daily spot trading volume. This figure represents about 67% of Binance’s Bitcoin spot trading volume, which stands at around $4.1 billion. Institutional investors have increasingly turned to Bitcoin ETFs to gain exposure to Bitcoin, particularly as the ETF market matures and expands.
Ether ETFs Outperform Bitcoin ETFs in Recent Inflows
While Bitcoin ETFs dominate Bitcoin trading volumes, Ether ETFs have shown stronger recent inflows. Spot Ether ETFs have outpaced Bitcoin funds, with $1.24 billion in inflows over the past four trading days. These figures highlight the growing interest in Ethereum products, with Ether ETFs seeing no net outflow since August 20.
Over the last month, Ether ETFs have recorded more than $4 billion in inflows, representing 30% of the total inflows since their launch. On the other hand, Bitcoin ETFs have experienced more mixed performance, with Bitcoin seeing $571.6 million in inflows this week. The largest share of Bitcoin ETF inflows has been into the BlackRock iShares Bitcoin Trust, which accounted for 40% of the new capital.
Despite the surge in Ether ETF inflows, Bitcoin ETFs remain crucial in the institutional adoption of cryptocurrency. Their growing presence is reshaping spot market liquidity, making them a fundamental gateway for traditional capital.
