US Bitcoin ETFs Surge to $10B Daily Volume, Reshape Crypto Markets

     

Institutional demand drives ETF trading to rival exchanges, but Binance still dominates spot volumes

United States-based spot Bitcoin ETFs have quickly emerged as a dominant force in crypto trading, now fueling up to $10 billion in daily transactions. The surge highlights growing institutional adoption as ETFs increasingly rival major exchanges in providing exposure to Bitcoin.

According to CryptoQuant head of research Julio Moreno, Bitcoin spot trading volumes through US ETFs have become “a significant source of investor exposure,” sometimes surpassing activity on leading crypto platforms. On active days, ETF-driven volumes regularly fall between $5 billion and $10 billion, underscoring their influence in liquidity and price discovery.

Binance remains the global leader in spot trading

Despite the rapid rise of ETFs, Binance continues to command the largest share of spot trading worldwide. The exchange regularly handles $18 billion in Bitcoin spot volume on peak days and maintains a daily total trading activity of around $22 billion across all markets.

By comparison, the 11 US spot Bitcoin ETFs currently account for $2.77 billion in daily activity – approximately 67% of Binance’s spot BTC trading volume. Meanwhile, Ether spot trading remains concentrated on Binance, with ETFs playing only a marginal role at about 4%.

ETF flows slow as Ether funds gain momentum

While Bitcoin ETFs have cemented their place in the market, inflows slowed this week, reaching $571.6 million across four trading days. BlackRock’s iShares Bitcoin Trust (IBIT) led the pack, attracting $223.3 million.

At the same time, spot Ether ETFs have outpaced BTC products, pulling in $1.24 billion over the same period. Ether funds have enjoyed 13 consecutive months of inflows, amassing over $4 billion in August alone and representing nearly one-third of all inflows since launch.

Analysts say this shift signals that ETFs are not only supplementing but actively reshaping liquidity in crypto markets. With their growing share of Bitcoin’s circulating supply, ETFs are increasingly viewed as the primary entry point for traditional capital.