Bitcoin News Today: ETFs Gaining Ground, But Exchanges Still Reign in Crypto Trading

Bitcoin Exchange-Traded Funds (ETFs) currently represent only 13% of the total trading volume in the Bitcoin market, according to recent data from on-chain analytics firm CryptoQuant. Despite their growing influence and role in institutional adoption, centralized exchanges like Binance continue to dominate spot trading activity.

U.S.-based spot Bitcoin ETFs have generated between $5 billion and $10 billion in daily trading volume on active days, according to Julio Moreno, head of research at CryptoQuant. This growth reflects rising institutional interest in cryptocurrencies and the increasing accessibility of Bitcoin through traditional financial platforms. However, the volume generated by these ETFs still lags behind the trading figures seen on leading exchanges.

Binance remains the largest venue for Bitcoin spot trading, with daily trading volume on the platform reaching up to $18 billion on peak days. In comparison, the 11 U.S. spot Bitcoin ETFs collectively accounted for $2.77 billion in daily trading volume as of the latest data. This figure represents roughly 67% of Binance’s Bitcoin spot volume, which stands at around $4.1 billion. Meanwhile, Binance’s total daily trading volume across all pairs is approximately $22 billion, underscoring the exchange’s continued dominance in the market.

The role of ETFs in shaping market liquidity is becoming more pronounced. Analysts have noted that ETF trading activity is increasingly correlated with Bitcoin price movements, suggesting a deeper integration of these products into the broader financial ecosystem. Nick Ruck, director at LVRG Research, emphasized that ETFs are not just supplementing but actively reshaping spot market liquidity. He noted that these funds now represent a significant portion of Bitcoin’s total supply, reinforcing their function as a primary entry point for traditional capital into the crypto space.

While Bitcoin ETFs have seen a slowdown in inflows in recent weeks, Ether (ETH) ETFs have outperformed them significantly. Over the past four trading days, Ether ETFs have recorded inflows of $1.24 billion, more than double the $571.6 million seen in Bitcoin ETFs. These Ether funds have not experienced a net outflow day since August 20 and have brought in over $4 billion in inflows this month, accounting for 30% of total inflows since their launch 13 months ago. The disparity in performance highlights the faster institutional adoption of Ether compared to Bitcoin.

The data suggests that while ETFs are an increasingly important part of the market structure, they still play a secondary role to traditional exchanges in terms of volume. For Bitcoin, U.S. ETFs hold only a 4.53% volume dominance, with exchanges like Binance, Crypto.com, and Bybit collectively accounting for a larger share. In the case of Ethereum, the gap is narrower, with U.S. ETFs capturing 13.08% of the market compared to Binance’s 29.07%. Despite this, the upward trend in ETF inflows and their growing influence on liquidity indicate a continued shift in how investors interact with the crypto market.

Source:

[1] US ETFs now a major source of Bitcoin spot trading volume (https://cointelegraph.com/news/bitcoin-etfs-take-share-spot-trading-volume)

[2] Are ETFs Taking Over Bitcoin Trading Volume? Data Says ... (https://bitcoinist.com/etfs-taking-over-bitcoin-trading-volume-data-no/)

[3] US Spot Bitcoin ETFs Now Rival Major Exchanges in ... (https://uz.kursiv.media/en/2025-08-29/us-spot-bitcoin-etfs-now-rival-major-exchanges-in-trading-volume-cryptoquant/)