Key Takeaways
U.S.-listed spot Bitcoin and ETH ETFs hit record trading volumes, with Ether funds surging to new highs. The milestone coincides with BTC’s $124K peak and ETH’s rally near all-time highs.
Amid a broader market upswing, U.S.-listed spot Bitcoin [BTC] and Ethereum [ETH] ETFs have captured the spotlight, recording their heaviest trading week to date.
ETF analysts highlight that the surge not only sets a new benchmark for crypto funds but also rivals the activity seen in Wall Street’s leading ETFs and even some of the most-traded stocks.
He said,
“Spot Bitcoin + Ether ETFs did about $40b in volume this week, biggest week ever for them. Massive number, equiv to a Top 5 ETF or Top 10 stock’s volume.”
Source: Eric Balchunas/X
Eric Balchunas weighs in
According to ETF analyst Eric Balchunas, the surge wasn’t driven by Bitcoin alone.
Ether ETFs, which had long trailed behind their Bitcoin counterparts, finally stepped up, posting volumes that marked a clear shift from their previously muted performance.
After months of modest inflows, Ether funds appear to have “woken up,” narrowing the gap in activity with spot Bitcoin ETFs.
He further added,
“Ether ETFs’ weekly volume was about $17b, blowing away record, man did it wake up in July.”
Bitcoin and Ethereum market trend
The record ETF volumes coincided with fresh milestones in the crypto market. Bitcoin surged to a new peak of $124,000, while Ether came within 2% of its 2021 high.
Ether ETFs also saw unprecedented momentum, posting $1.01 billion in single-day inflows and over $3 billion in just two weeks, their second-best monthly run ever.
Balchunas compared the surge to Ether ETFs lying dormant for a year and then squeezing a year’s worth of growth into just six weeks.
Echoing similar sentiments, Nate Geraci noted,
“Highest trading volume week *ever* for spot crypto ETFs…Spot eth ETFs absolutely obliterated previous weekly trading volume record. Wonder if there are any “no demand” naysayers still out there.”
Ethereum vs. Bitcoin ETFs
Additionally, data from Milk Road highlighted Ether’s rising momentum.
Notably, ETH ETFs attracted $3.37 billion in net inflows between the 8th to the 14th of August, outpacing Bitcoin ETFs despite BTC’s market cap being 4.3 times larger.
Bitcoin products saw just $964.8 million over the same period, signaling that ETH was no longer content to play second fiddle.
Still, Bitcoin ETFs remain dominant overall, commanding $152.67 billion in assets under management compared to Ether’s $25.68 billion.
Yet, the pullback appears temporary, with demand for BTC and ETH staying strong across ETFs and institutional treasuries.
Adding to this, Grayscale has now filed an S-1 with the SEC to launch its $GDOG ETF on NYSE Arca, a move that further highlights how institutional interest continues to shape the next phase of the crypto market.
Next: Ethereum vs. Bitcoin: Here’s why ETH can be a better 2025 risk-on pick
