Spot Bitcoin ETFs based in the United States now make up a large part of trading volume on a daily basis, with institutional investors continuing to be attracted to cryptocurrency.
“Bitcoin spot trading volumes through US-based ETFs have become a significant source of investor exposure to Bitcoin,” said Julio Moreno is the Head of Research for Blockchain Analytics at CryptoQuant.
US-based Bitcoin Spot (BTCETFs generate daily volumes of $5 to $10 billion, often surpassing the volume generated by most crypto-exchanges. “reflecting growing institutional demand,” He added.
Binance is still the leader in terms of spot trading volume
The world’s biggest crypto exchange is, however, Coinbase. BinanceHe said that consistently, leads the spot trading volume.
Bitcoin has surged in value to over $18 billion and Ether.ETHOn peak days, volumes reached as much as $11 Billion.
The total daily trading volume of the 11 US Bitcoin funds currently stands at $2.77 billion. according CoinGlass. Binance has a daily Bitcoin spot market volume of $4.1 billion. That’s 67%. according CoinGecko is a free online game.
Binance has a total volume of $22 billion for its daily trading across all pairs.
“US spot Bitcoin ETFs have emerged as a dominant force in crypto markets and demonstrate their pivotal role in price discovery and institutional adoption,” Nick Ruck told Cointelegraph that he is director of LVRG Research.
Moreno noted that Binance is the main place to trade ETH, with Crypto.com a close second. ETFs are ranked sixth, at only 4%.
It is important to note that “limited ETF participation in ETH spot trading,” The following is a list of identifying “slower institutional adoption of Ethereum compared to Bitcoin.”
The recent ETF daily figures, however, tell a completely different tale.
Related: Ether ETFs capture 10x more inflows than Bitcoin in 5 days
Bitcoin ETFs flow slower as Ether gains dominance
The inflows of $571.6 millions into eleven Bitcoin ETFs over the last four trading days have decreased this week. according CoinGlass is a great way to collect coins.
BlackRock iShares Bitcoin Trust IBIT is the biggest beneficiary of this inflow, accounting for almost 40% (or $223.3 Million) since Monday.
Bitcoin’s price has fallen by 2.5% in the last week, to around $111600 as of this writing.
Comparatively speaking, the spot Ether funds have done much better than BTC ETFs, with an inflow totaling $1.24 billion. This is more that double what BTC has received over the four previous trading days.
Ether funds Since August 20, there has not been a single day of net outflow. This month alone, the inflows have reached over $4 billion. That’s 30% of all inflows since these products were introduced 13 months ago.
“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,” Ruck said.
“These products now represent a significant percentage of Bitcoin’s total supply, cementing ETFs as a fundamental gateway for traditional capital.”
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Source: cointelegraph.com
