Main to remember
The FNB and the ETH ETH Listed in the United States have reached record trading volumes, the Ether funds reaching new heights. The milestone coincides with the peak of $ 124,000 in BTC and the ETH rally near the peaks of all time.
In the midst of a broader increase in the market, Bitcoin (BTC) and Ethereum (ETH) ETFS have taken the spotlight, recording their heaviest negotiation week to date.
ETF analysts show that overvoltage not only establishes a new reference for Crypto funds, but also competes with the activity observed in the main Wall Street and even some of the most negotiated stocks.
He said,
“Spot Bitcoin + ETHE ETF made around 40 billion dollars in volume this week, the biggest week for them. Massive number, is equivalent to a volume of the TOP 5 ETF or the 10 best actions.”
Source: Eric Balchunas / X
Eric Balchunas weighs
According to ETF analyst, Eric Balchunas, the push was not led by Bitcoin alone.
Andfther ETF, who had long dragged behind their Bitcoin counterparts, finally intensified, displaying volumes that marked a clear change in their previously mute performance.
After months of modest entrances, the ether funds seem to have “woke up”, narrowing the activity gap with Bitcoin ETF.
He also added,
“The weekly ETHER ETFS volume was about $ 17 billion, record, the man woke up in July.”
Bitcoin and Ethereum Market Trend
Retf Records volumes have coincided with new milestones on the cryptography market. Bitcoin reached a new peak of $ 124,000, while Ether arrived at 2% of its summit in 2021.
The ETHE Ether also experienced an unprecedented dynamic, displaying $ 1.01 billion in one day and more than $ 3 billion in just two weeks, their second best monthly race.
Balchunas compared the overvoltage to the ETHER of the ether going for a year, then tightening a year of growth in just six weeks.
Echoing similar feelings, noted Nate Geraci,
“Week of highest trading volume * Never * for punctual crypto ETF … The absolutely deleted FNB ETH Record of weekly trading volume. I wonder if there are always opponents “without demand”. “
Ethereum vs bitcoin etf
In addition, Milk Road’s data highlighted Ether’s growing momentum.
In particular, the FNBT des ETH attracted $ 3.37 billion in net entries between August 8 and 14, exceeding FNB Bitcoin despite the BTC market capitalization 4.3 times larger.
Bitcoin Products only experienced $ 964.8 million over the same period, reporting that ETH was no longer content to play in the second violin.
However, the FNB Bitcoin remain overall dominant, dominating $ 152.67 billion in assets under management compared to the $ 25.68 billion in Ether.
The Bitcoin push to a record of $ 124,000 and the Ether rally near its summit of all time highlighted the bullish momentum of the market, even if the two assets were faced with brief corrections of more than 5% and 6% respectively.
However, the withdrawal appears temporary, with the request of BTC and ETH remaining strong through the ETF and the institutional treasury bills.
Adding to this, Graycale has now filed an S-1 with the SEC to launch Son ETF $ GDOG on NYSE Arca, a decision which also emphasizes how institutional interest continues to shape the next phase of the cryptography market.
