Ether ETFs drove a record $17 billion weekly trading volume, alongside Bitcoin’s surge, highlighting ETFs as major short-term market drivers in one of crypto’s busiest weeks.
U.S. spot Ethereum ETFs posted an unprecedented $17 billion in weekly trading volume, with a record single-day net inflow of $1 billion, most of it concentrated in BlackRock’s ETHA and Fidelity’s FETH funds. Across the first two weeks of August, Ether ETFs attracted over $3 billion in inflows. Combined, spot Bitcoin and Ether ETFs reached $40 billion in weekly volume — their highest on record — fueled by Ether’s sudden surge. Bitcoin hit $124,000 before falling to around $117,648, while Ether touched $4,787, just 2.1% below its all-time high, before retreating to $4,475. Analysts compared the move to early Bitcoin ETF trading patterns in 2024, noting both excitement and caution as flows could reverse quickly. Some traders expect further gains if inflows persist; others warn the spike may be short-lived.