The Bitcoin ETF revival is reshaping global crypto markets, with US-listed spot Bitcoin exchange-traded funds (ETFs) emerging as a dominant channel for investor exposure. According to Julio Moreno, head of research at CryptoQuant, these ETFs are generating daily volumes of $5–10 billion on active trading days, rivaling major exchanges.
“The Bitcoin ETF revival has firmly established ETFs as a parallel venue to traditional exchanges,” — Julio Moreno, Head of Research, CryptoQuant. “For investors, this marks a fundamental shift in how Bitcoin liquidity is accessed.”
CoinGecko data shows that 11 US-based Bitcoin ETFs collectively recorded $2.77 billion in daily trading volume, or about 67% of Binance’s $4.1 billion Bitcoin spot activity. On peak days, overall Bitcoin spot trading including both ETFs and exchanges has surged to $18 billion, underscoring the growing role of regulated products in crypto liquidity.
Binance still leads but faces ETF competition
Despite the momentum of the Bitcoin ETF revival, Binance remains the largest spot trading venue globally. Its total daily trading volume across assets stands at roughly $22 billion, with Bitcoin and Ethereum contributing the lion’s share. Ethereum alone has reached peak spot volumes of $11 billion on the exchange.
Source:Crypto.com
US-based Bitcoin ETFs, however, are increasingly favored by institutional investors. BlackRock’s iShares Bitcoin Trust (IBIT) leads the pack, capturing nearly 40% of recent inflows. Since Monday, IBIT has attracted $223.3 million in new capital.
Over the last four trading days, Bitcoin ETFs collectively recorded $571.6 million in inflows. While these numbers are lower than earlier peaks, they highlight persistent institutional demand.
“The Bitcoin ETF revival has made regulated exposure more accessible, and institutions are responding,” — Matteo Greco, Research Analyst at Fineqia International, in a recent market note.
Ether ETFs steal the spotlight with stronger inflows
Although the Bitcoin ETF revival is commanding headlines, Ether ETFs have quietly emerged as the stronger performer in terms of recent inflows, signaling that institutional investors are broadening their focus beyond Bitcoin. In just four trading sessions, US-listed Ether ETFs attracted $1.24 billion in new capital more than double the inflows seen in comparable Bitcoin products.
The consistency of these flows underscores the growing appeal of Ethereum’s ecosystem to institutional investors. Since August 20, Ether ETFs have not recorded a single day of outflows, a streak that stands in contrast to the more volatile patterns observed in Bitcoin funds. Over the past month, Ether ETFs have absorbed more than $4 billion, accounting for roughly 30% of all inflows since their launch earlier this year.
Market analysts point out that this momentum reflects Ethereum’s evolving role in the digital economy. Unlike Bitcoin, which is primarily valued as a store of wealth, Ethereum underpins a wide range of decentralized applications, including DeFi protocols, NFT platforms, and tokenized real-world assets.
“Ethereum offers exposure not just to a digital currency, but to the infrastructure powering Web3,” said Maria Lopez, Senior Strategist at Arcane Research. “This is increasingly attractive to institutions looking for diversified blockchain investments.”
Despite the strong showing from Ether ETFs, Ethereum’s spot trading volume remains heavily concentrated on centralized exchanges. Moreno noted that Binance and Crypto.com continue to account for the majority of ETH spot activity, with ETFs ranking only sixth in global trading share. This suggests that while ETFs are gaining traction among regulated capital allocators, their adoption still lags behind Bitcoin’s more established footprint.
Analysts argue that this gap may close as Ethereum’s regulatory outlook improves. The US Securities and Exchange Commission (SEC) approved Ether ETFs months after Bitcoin products, and several funds are still ramping up their market presence. As these ETFs scale and institutions gain confidence in Ethereum’s long-term utility, inflows could accelerate further.
“The contrast between the Bitcoin ETF revival and the surge in Ether ETF inflows shows that institutional interest is diversifying,” — Sarah Chen, Analyst, Solana Foundation. “Ethereum is becoming a serious contender for regulated capital, particularly for investors who see value in its smart contract capabilities.”
For investors, the takeaway is that Ether ETFs are not simply a secondary option but a parallel growth story. If current inflow trends continue, Ether could challenge Bitcoin’s dominance in the regulated ETF landscape, reinforcing its role as the backbone of decentralized finance and digital innovation.
ETFs reshape liquidity and investor access
The Bitcoin ETF revival is more than a trading trend as it is reshaping the very structure of crypto market liquidity. By channeling billions of dollars in daily volume through regulated structures, ETFs are establishing themselves as a fundamental gateway for traditional finance.
Industry researchers argue that this transformation is altering price formation and broadening participation in digital assets. For many institutional investors, ETFs offer a safer, regulated entry point into Bitcoin and Ethereum, reducing counterparty risks tied to offshore exchanges.
“As the Bitcoin ETF revival continues, we’re likely to see ETFs play an even greater role in setting market benchmarks,” — David Lawant, Head of Research, FalconX. “They’re not just tracking the market — they’re starting to shape it.”
For crypto investors, the message is clear: the Bitcoin ETF revival has cemented ETFs as a core driver of liquidity, inflows, and adoption. While Binance retains global dominance, ETFs are no longer a sideshow as they are a centerpiece of institutional participation in the digital asset economy.