Four months after their debut, spot Ethereum ETFs have reached their highest weekly trading volume since the third week of their inception in August. Last week, trading volumes surged over $1.63 billion, marking a 44% increase from the previous week.
Initially, Ethereum ETFs saw an average daily volume of $566 million during their first three weeks. However, from mid-August to late October, volumes stagnated, averaging just $168 million daily. This past week, volumes spiked significantly, reaching over $326 million per day—a pattern reminiscent of Bitcoin ETFs’ trading trajectory.
Similarities to Bitcoin ETFs
Bitcoin ETFs experienced a similar trend: initial high volumes averaging $2.36 billion daily, followed by a quieter phase with $1.4 billion per day. After this lull, trading volumes skyrocketed to $5.4 billion daily, coinciding with a 35% rise in BTC’s price to a record $74,000.
Ethereum’s Recent Surge
This week’s spike in Ethereum ETF trading volume appears to mirror this trend. Following the highest trading volumes in three months, Ethereum’s price rose by 25%—its largest weekly gain since May. While not a definitive price indicator, the correlation between ETF volumes and asset prices is a trend worth monitoring.
