Binance remains the leader in the trading market for Bitcoin and Ethereum despite the rise of ETF funds.

Despite the increase in spot Bitcoin and Ethereum exchange-traded funds (ETFs), centralized exchanges, especially Binance, continue to maintain their dominant position in trading volume for both cryptocurrencies.

Spot Bitcoin ETFs in the US have shown significant growth, with trading volumes during peak days reaching between 5 to 10 billion USD, sometimes surpassing most cryptocurrency exchanges. This indicates the growing participation of institutional investors in the Bitcoin market.

Similarly, Ethereum ETF funds are also attracting strong capital flows. In the last four trading days, these funds have recorded a net inflow of over 1.24 billion USD, double the 571.6 million USD flowing into Bitcoin ETF funds during the same period. As of August 28, the total net assets of Ethereum ETF funds have reached 13.68 billion USD.

Although ETFs are becoming increasingly popular, exchanges remain the preferred trading venue for traders. Data from CryptoQuant shows that Binance consistently leads in spot trading volume for both Bitcoin and Ethereum. On peak days, Bitcoin trading volume on Binance can reach up to 18 billion USD, while Ethereum fluctuates between 8.8 and 11.1 billion USD.

Particularly for Ethereum, the dependence on exchanges remains very high. Binance accounts for up to 35% of the spot trading market share for Ethereum. ETF funds only account for 4% market share, indicating that institutional acceptance of Ethereum is slower than that of Bitcoin.