Quick Takeaways
- The trading volume of cryptocurrency ETFs just broke all previous records, reaching $40 billion in a single week.
- Ether ETFs alone did $17 billion, a huge jump after nearly a year of quiet trading.
- Inflows into Ether ETFs have already topped $3 billion this August.
Crypto ETF Boom Driven by Sudden Ether ETF Surge
It’s official crypto ETF trading just had its biggest week ever. Last week, U.S.-based spot Bitcoin and Ether ETFs hit a combined $40 billion in trading volume, breaking all previous records. And what sparked it? A massive comeback from Ether ETFs, which had been mostly quiet for nearly a year.
ETF analyst Eric Balchunas summed it up best: “It’s like Ether ETFs were asleep for 11 months and suddenly crammed a whole year’s worth of action into six weeks.”
That “wake-up call” increased the weekly volume of Ether ETFs to $17 billion, which was more than anyone had anticipated and sufficient to cause a market-wide tremor.
Bitcoin Joins the Crypto ETF Rally as Prices Soar
Bitcoin wasn’t far behind Ether as the leader.
Thanks to this crypto ETF momentum, Bitcoin hit a new all-time high of $124,000 on Thursday. Ether followed closely, reaching $4,784 just a hair below its November 2021 high of $4,878.
But no rally comes without a breather. Since those highs, both have pulled back a bit. Bitcoin dipped about 5.5%, now sitting around $117,659, while Ether is down 6.2%, trading near $4,486.
Still, many in the industry believe this is just the beginning. Michael van de Poppe, founder of MN Trading Capital, compared Ether’s rally to Bitcoin’s earlier ETF-driven surge, saying, “There’s way more to come for this cycle.”
Ether ETFs Pull in Billions Fast
If you thought Ether ETFs were going to fade after a hot start, think again. On Monday alone, spot Ether ETFs pulled in over $1 billion in net inflows—their biggest single day ever.
And in just the first two weeks of August, total inflows have topped $3 billion, making this their second-best month since launch.
That’s a huge shift from their quiet debut in July 2024. Back then, many on Wall Street weren’t sure if Ether ETFs even had a strong use case.
But things have clearly changed. Now, they’re not just catching up—they’re helping drive the whole crypto ETF market forward.
What Happens Next? Experts Say: Be Patient
Even with Ether knocking on the door of a new all-time high, some analysts are urging caution.
Jake Kennis, an analyst at blockchain firm Nansen, believes that while the momentum is real, Ether may need more time before hitting a fresh high.
“It could still take weeks or even months,” he noted, reminding investors not to get too ahead of themselves. That said, the pattern looks familiar.
Just like Bitcoin’s rally following its January ETF debut, Ether appears to be riding a similar wave. And if history is any guide, other altcoins could be next to benefit from the growing crypto ETF buzz.
