Bitcoin News Today: US Crypto ETFs Hit $40B Weekly Volume as Ether Rallies Near 2021 High

US-based spot Bitcoin and Ether exchange-traded funds (ETFs) saw a record combined weekly trading volume of $40 billion in early August, according to ETF analyst Eric Balchunas. This historic figure marked what he described as the “biggest week ever” for the products, fueled largely by the resurgence of Ether ETFs, which saw $17 billion in trading volume during the period [1]. The sudden burst of activity came after 11 months of relatively low demand for Ether ETFs, with Balchunas noting that the funds had “woken up” in July and appeared to have condensed a year’s worth of trading into just six weeks [2].

The timing of the record volume coincided with a significant price rally for both cryptocurrencies. Bitcoin reached a new all-time high of $124,000 on Thursday before retreating to $117,659, while Ether came within 1.94% of its 2021 peak of $4,878, hitting $4,784 on the same day [1]. Although both assets have since pulled back, the surge in ETF activity suggests strong institutional and retail interest in crypto-backed products. Spot Ether ETFs, in particular, saw a record $1.01 billion in net inflows on Monday, with over $3 billion in inflows recorded across the first two weeks of August—the second-strongest monthly performance to date [2].

Michael van de Poppe, founder of MN Trading Capital, noted that the ETF-driven rally in Ether mirrors Bitcoin’s performance following the launch of its ETFs in January 2024. He predicted that the current cycle could see even greater momentum in the coming months, drawing a direct comparison between the two events [3]. However, not all analysts are as bullish in the short term. Jake Kennis, a Nansen analyst, warned that it could take weeks or months for Ether to break its all-time high, despite its current price being close to that level [4].

The recent performance of both Bitcoin and Ether ETFs signals a broader shift in how digital assets are being integrated into traditional investment portfolios. The record-breaking activity highlights the growing acceptance of crypto as a legitimate asset class and underscores the potential for ETFs to serve as a gateway for mainstream investors. With Ether ETFs in particular showing strong momentum, 2025 could become a pivotal year for crypto markets, with ETFs playing a central role in shaping the next phase of growth [5].

Sources:

[1] Eric Balchunas (@EricBalchunas) / X

(https://x.com/ericbalchunas?lang=en)

[2] BTCUSD - Bitcoin and Ether ETFs post $40B volume ... - ADVFN

(https://mx.adv.fn.com/bolsa-de-valores/COIN/BTCUSD/crypto-news/96652786/bitcoin-and-ether-etfs-post-40b-volume-in-bigge)

[3] U.S. Spot BTC and ETH ETFs Record Biggest Weekly Volume of $40B: Is 2025 Crypto Summer Next?

(https://cryptorank.io/news/feed/ac496-ethereum-new-high-5k-target-blackrock-buys-eth)

[4] Ethereum Analysis: What's Next Amid Mixed Whale Activity?

(https://coinpedia.org/price-analysis/ethereum-price-analysis-whats-next-for-eth-amid-mixed-whale-activity/)

[5] $5K SOON as BlackRock Buys $318.7M in ETH... | Ethereum

(https://www.financemagnates.com/trending/why-bitcoin-is-surging-btc-price-prediction-to-200k-as-market-cap-flips-google/)