The past week wasn’t just another chapter in crypto’s wild ride it was history in the making. U.S.-listed spot Bitcoin [BTC] and Ethereum [ETH] ETFs clocked their biggest week ever, pulling in volumes that rival even some of Wall Street’s hottest names.
ETF analyst Eric Balchunas summed it up perfectly:
“Spot Bitcoin + Ether ETFs did about $40b in volume this week, biggest week ever for them. Massive number, equivalent to a Top 5 ETF or Top 10 stock’s volume.”
That’s right, crypto funds are no longer the scrappy outsiders; they’re trading like mainstream financial heavyweights.
Ether ETFs Finally Wake Up While Bitcoin Rockets
For years, ETH ETFs lived in Bitcoin’s shadow, barely moving the needle. But August changed everything. Ether funds roared to life with volumes that shattered every record in sight.
Balchunas himself couldn’t resist pointing it out:
“Ether ETFs’ weekly volume was about $17b, blowing away record, man did it wake up in July.”
After months of modest inflows, Ether ETFs suddenly squeezed a year’s worth of activity into six weeks. Some called it overdue, others called it a statement.
Bitcoin Market Milestones Line Up with ETF Frenzy
The ETF explosion didn’t happen in a vacuum. Bitcoin charged to an all-time high of $124,000, while Ethereum came within striking distance, just 2% shy of its 2021 peak.
ETH ETFs mirrored the surge, pulling in $1.01 billion in a single day and over $3 billion in just two weeks. Nate Geraci, another ETF commentator, didn’t hold back either:
“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.”
The answer? Probably hiding.
ETH vs. BTC: Who’s Really Leading?
The data paints an interesting picture. Between August 8th and 14th, ETH ETFs attracted $3.37 billion in net inflows. Bitcoin ETFs? A still-respectable but much smaller $964.8 million, despite Bitcoin’s market cap being more than four times Ethereum’s.
Still, the king isn’t dethroned yet. Bitcoin ETFs manage a staggering $152.67 billion in assets under management, dwarfing ETH’s $25.68 billion. But make no mistake, Ethereum is flexing harder than ever.
Looking Ahead: Bitcoin & Institutions Keep the Party Going
Even with brief 5%–6% corrections in BTC and ETH after their peaks, demand across ETFs and institutional treasuries hasn’t flinched. Instead, it seems to be accelerating.
And now, Grayscale has filed an S-1 with the SEC to launch its $GDOG ETF on NYSE Arca, another clear signal that institutions aren’t just testing the waters, they’re diving in headfirst.
The takeaway? Bitcoin may have set the new ATH fireworks at $124K, but Ethereum ETFs just stole the spotlight with their record-breaking entrance. The next leg up could very well be a two-player show.
