U.S. spot Bitcoin exchange-traded funds (ETFs) have now become an important part of daily spot trading, as institutional investors' acceptance of cryptocurrencies continues to rise.
Julio Moreno, head of research at blockchain analysis firm CryptoQuant, stated that the spot trading volume of Bitcoin through U.S. ETFs has become an important source for investors to access Bitcoin.
The daily trading volume of U.S. spot Bitcoin ETFs on active trading days usually ranges between $5 billion and $10 billion, sometimes even exceeding that of most cryptocurrency exchanges, indicating a growing institutional demand.
Binance still leads in spot trading volume.
However, Binance, the largest cryptocurrency exchange in the world, still holds a leading position in spot trading volume.
Bitcoin trading volume has surged to $18 billion, with Ether (ETH) reaching a peak daily trading volume of $11 billion.
According to CoinGlass data, the daily total trading volume of 11 U.S. spot Bitcoin funds is currently $2.77 billion, about 67% of Binance's daily spot trading volume, while according to CoinGecko data, Binance's daily trading volume is approximately $4.1 billion.
The daily total trading volume of all currency pairs on Binance is approximately $22 billion.
U.S. spot Bitcoin ETFs have become a dominant force in the crypto market, underscoring their importance for price discovery and institutional acceptance.
Moreno pointed out that spot trading of ETH is mainly concentrated on Binance, while ETFs account for only 6% of ETH spot trading, indicating a slower institutional acceptance of Ethereum compared to Bitcoin.
Bitcoin ETF inflows have slowed, with Ethereum taking the lead.
This week, the inflow of funds into Bitcoin ETFs has slowed, with $57.16 billion inflowing over the past four days.
BlackRock's iShares Bitcoin Trust (IBIT) accounts for 40% of these funds, or $22.33 billion.
In comparison, the inflow of funds into spot Ether (ETH) ETFs reached $1.24 billion, which is double that of Bitcoin funds.
Currently, ETFs are not only supplementing the market but also actively reshaping the liquidity of the spot market, with their trading activities increasingly correlated with the underlying BTC price movements.
