Bitcoin ETFs Record $10 Billion in Daily Volume
Spot Bitcoin exchange-traded funds in the United States are increasingly dominating daily spot trading as institutional investors expand their participation in crypto. Julio Moreno, head of research at CryptoQuant, said Thursday that “Bitcoin spot trading volumes through US-based ETFs have become a significant source of investor exposure to Bitcoin.”
Bitcoin ETFs drive market liquidity
US spot Bitcoin ETFs regularly generate between $5 billion and $10 billion in daily volume on active days, sometimes exceeding individual crypto exchanges. This reflects growing institutional demand, though Binance still holds the lead in overall spot trading activity.
Bitcoin trading volumes have reached $18 billion at peaks, while ether has climbed as high as $11 billion. Current daily volume for the eleven US spot Bitcoin ETFs sits at $2.77 billion, roughly two-thirds of Binance’s $4.1 billion Bitcoin volume. Binance’s total daily volume across all pairs is about $22 billion.
Nick Ruck, director at LVRG Research, said, “US spot Bitcoin ETFs have emerged as a dominant force in crypto markets and demonstrate their pivotal role in price discovery and institutional adoption.” Moreno also highlighted that while Bitcoin ETFs are thriving, ETH spot trading remains concentrated on centralized exchanges, with ETFs representing just 4% of total ETH spot volume.
Flows show growing role of Ethereum ETFs
While inflows into Bitcoin ETFs slowed this week — totaling $571.6 million over four trading days — Ethereum ETFs have performed more strongly, attracting $1.24 billion in the same period.
BlackRock’s iShares Bitcoin Trust captured nearly 40% of the Bitcoin ETF inflows, but overall, BTC funds have lagged Ether. Ether ETFs have not recorded a net outflow day since August 20 and have taken in over $4 billion this month alone, accounting for 30% of all inflows since their launch 13 months ago.
Ruck noted, “Current flow dynamics show ETFs are not just supplementing but actively reshaping spot market liquidity, with their trading activity increasingly correlated with underlying BTC price movements.”
Sources:
https://cointelegraph.com/news/bitcoin-etfs-take-share-spot-trading-volume
https://cryptoquant.com/analytics/query/68ac8a85eae98556c03c149b?v=68ac8a85eae98556c03c149d
https://cryptoquant.com/community/dashboard/68ac9f0deb8bf52376382d1b