Биткоин-ETF: новые горизонты ликвидности в мире криптовалют Translation: Bitcoin ETFs: New Horizons of Liquidity in the Cryptocurrency World

Spot Bitcoin ETFs in the United States are rapidly catching up to major exchanges like Binance in trading volumes. On active days, these funds generate between $5 billion and $10 billion, as noted by Julio Moreno, the head of research at CryptoQuant.

He emphasized that these instruments have become a primary avenue for investors to acquire digital gold.

Despite the success of ETFs, Binance consistently leads in spot trading volumes for the largest cryptocurrencies by market capitalization. The combined total for 11 U.S. Bitcoin ETFs is $2.77 billion, whereas exchanges boast $4.1 billion.

During peak periods, trading volumes of digital gold on the platform reached $18 billion, while Ethereum saw $11 billion. Binance’s total daily volume across all pairs exceeds $22 billion.

In contrast to Bitcoin, spot trading for Ethereum, the second-largest cryptocurrency by market cap, is predominantly concentrated on Binance and Crypto.com. The share of spot ETFs associated with this asset here is only 4%.

According to Moreno, this suggests a slower institutional adoption of Ethereum. However, data on inflows into ETH ETFs tells a different story.

Over the past four trading days, spot Bitcoin ETFs have attracted a total of $571.6 million. Since the beginning of August, inflows into these ETFs have slowed down.

In the same timeframe, Ethereum-focused products saw inflows of $1.2 billion. A week earlier, the funds lost $230 million, but overall, net inflows have exceeded $4 billion since the start of the month.

It’s worth noting that at the end of August, the CEO of VanEck referred to Ethereum as “the token of Wall Street.” Previously, JPMorgan analysts identified four key factors contributing to Ethereum’s dominance over Bitcoin.