ETFs now shape US Bitcoin trading more than spot exchanges

ETF flow spikes now move Bitcoin more than spot order books.

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

Bitcoin's market dynamics are shifting dramatically. Spot ETFs are closing in on—sometimes even surpassing—traditional spot exchanges in daily trading volume. In the past month, they've hit nearly $63 billion, challenging longtime leaders like Binance and Coinbase by providing a more stable and familiar environment for institutional investors. Could this mean a critical transformation in how Bitcoin's market liquidity evolves? What role are major players like BlackRock playing in this pivotal development? Discover the factors driving this watershed moment in crypto trading.