🚀 Bitcoin & Ethereum ETFs Smash Records: $40B Weekly Volume Marks the Biggest Week Ever

The cryptocurrency market just witnessed a historic milestone — Bitcoin and Ethereum exchange-traded funds (ETFs) recorded their highest-ever weekly trading volume, surpassing $40 billion. This remarkable surge came on the back of a renewed wave of enthusiasm for Ethereum ETFs, which had been largely stagnant since their launch.

Below, we break down the highlights of this record-setting week and what it means for investors, traders, and the broader crypto ecosystem.

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◆ Unprecedented ETF Trading Volume Hits $40B

The combined trading volume of U.S.-based spot Bitcoin and Ether ETFs surged past $40 billion in a single week — the biggest on record.

ETF analyst Eric Balchunas emphasized that Ether ETFs were the real driver of this surge, after being “asleep” for nearly 11 months.

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◆ Ethereum ETFs Finally Wake Up

Spot Ether ETFs recorded $17 billion in weekly volume, shattering all previous records.

On Monday, Ether ETFs also logged their largest-ever day of net inflows, with $1.01 billion added in a single session.

Across the first two weeks of August alone, Ether ETFs have accumulated $3 billion in net inflows, their second-best monthly performance since launch.

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◆ Bitcoin & Ethereum Prices Near Record Highs

Bitcoin touched a new all-time high of $124,000 before pulling back to $117,659, a 5.5% decline from its peak.

Ethereum rallied to $4,784, just 1.94% shy of its November 2021 all-time high of $4,878. It is now trading around $4,486 after a 6.2% drop.

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◆ Analyst Insights: “Way More to Come”

Michael van de Poppe, founder of MN Trading Capital, believes the current ETF-driven rally has only just begun, noting that “there’s way more to come for this cycle.”

Analysts are drawing parallels between Ethereum’s move and Bitcoin’s post-ETF launch rally earlier in 2024, which fueled BTC’s climb to fresh record highs.

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◆ Patience Needed for Ethereum’s Next ATH

While ETH is only a few hundred dollars away from a new record, some analysts caution against expecting an immediate breakout.

Jake Kennis (Nansen analyst) suggested Ethereum’s all-time high could still be weeks or even months away, as momentum builds gradually.

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◆ The Bigger Picture: Altcoin Season Ahead?

With Bitcoin and Ethereum ETFs gaining mainstream traction, attention is shifting toward the broader altcoin market.

Analysts suggest the ETF boom could trigger the next wave of altcoin rallies, creating opportunities for high-growth tokens.

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🔑 Key Takeaway

The explosive rise in ETF trading volumes confirms that institutional demand for Bitcoin and Ethereum is stronger than ever. Ethereum ETFs, once dismissed as “sleeping giants,” have awakened with unprecedented inflows — a development that could accelerate ETH’s path toward new all-time highs.

For now, investors are advised to stay patient, as the ETF momentum suggests both BTC and ETH have much further to climb, with altcoins potentially gearing up for their own breakout season.
$ETH $BTC

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