The Web2 networking party organized by my bistro is asking if vendors can also hold a similar Side party 🤣 Which wristband would you choose? @TaipeiWeek your main visual has been stolen.
What is the impact of Bitcoin and Ethereum ETFs on Binance and other exchanges?
The Bitcoin spot ETF registered in the United States has become a major investment channel, with peak spot trading volumes even surpassing most centralized exchanges, highlighting the accelerated institutional adoption of cryptocurrencies.
*Bitcoin ETF = Bitcoin Index Fund
As illustrated:
Binance Bitcoin trading volume > Bitcoin ETF spot trading volume > other exchanges
| Binance remains the first choice for users to purchase Bitcoin ^^|
Most people still buy $ETH primarily through @binance and @cryptocom, while the ETH ETF ranks sixth in the market!
Thus, there is still a lot of expectation for institutional entry into the ETH ETF space.
We look at the differences in ETH prices before and after the Federal Reserve's announcements in relation to the U.S. ETF and ETH trading volume on Binance.
- On 8/13, the ETH price was $4783, with Binance ETH trading volume reaching $8.8 billion, while the U.S. ETF trading volume was $4.5 billion. This gap clearly shows that users are purchasing ETH on Binance at a higher rate.
- On 8/22, after the Federal Reserve policy update, the ATH price for ETH that day was $4887 (and it reached a new high the next day).
However, Binance ETH trading volume reached $11.1 billion, which is also a great achievement, while the U.S. ETF trading volume also reached $7.2 billion.
The $BTC ETF and $ETH ETF, based on data, indeed allow many institutional entities to enter conservatively.
Yet, users still mostly choose to trade on Binance.
Even with the emergence of ETFs,
it has not seriously threatened Binance's position as the preferred exchange for users to use and trade.
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