Ether ETFs Drive Surge as Bitcoin Hits New All-Time High
The cryptocurrency market has witnessed its biggest-ever week for spot Bitcoin and Ether exchange-traded funds (ETFs), with combined trading volumes surging to $40 billion. Analysts attribute much of this momentum to a sudden surge in demand for Ether ETFs, which had been relatively quiet since their launch.
ETF analyst Eric Balchunas described the performance as the “biggest week ever” for Bitcoin and Ether ETFs, highlighting how Ether ETFs “stepped up big” after nearly a year of muted activity.
“Ether ETFs’ weekly volume was about $17 billion, blowing away their previous record,” Balchunas noted, adding that it was as if they had been “asleep for 11 months” and then compressed a year’s worth of activity into just six weeks.
Spot Bitcoin + Ether ETFs did about $40b in volume this week, biggest week ever for them, thanks to Ether ETFs stepping up big. Massive number, equiv to a Top 5 ETF or Top 10 stock's volume. pic.twitter.com/Z89uV63A3w
The surge coincided with Bitcoin hitting a new all-time high of $124,000 before retreating to $117,659 — a 5.5% drop. Ether also came close to reclaiming its November 2021 peak of $4,878, reaching $4,784 before easing to $4,486.
Highest trading volume week *ever* for spot crypto ETFs…
Spot eth ETFs absolutely obliterated previous weekly trading volume record.
Wonder if there are any “no demand” naysayers still out there.
On Monday alone, spot Ether ETFs logged $1.01 billion in net inflows, marking their largest single-day inflow to date. Over the first two weeks of August, inflows topped $3 billion, making it the second-best monthly performance since their launch.
Bitcoin ETFs, which launched in early 2024, also saw explosive growth, with prices climbing to $73,679 within two months of approval. Analysts now see parallels between Ether’s recent rally and Bitcoin’s early ETF-driven performance, though some caution that a new Ether all-time high may take more patience.
The rapid rise in ETF volumes highlights growing institutional appetite for digital assets. With Bitcoin already setting new price records and Ether approaching its 2021 high, analysts expect further market expansion as ETFs continue to draw billions in inflows.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.
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