Key Notes
- Ethereum ETFs are on track to surpass Bitcoin ETFs in supply held by September.
- ETH ETFs currently hold 5.08% of supply while BTC ETFs hold 6.38%.
- ETH spot ETFs saw $197 million in net outflows, the second-largest in history.
Ethereum
ETH
$4 307
24h volatility:
0.5%
Market cap:
$519.88 B
Vol. 24h:
$37.35 B
exchange-traded funds (ETFs) could soon surpass Bitcoin
BTC
$115 534
24h volatility:
0.4%
Market cap:
$2.30 T
Vol. 24h:
$37.33 B
ETFs in terms of supply held, a development that would mark a major turning point in institutional crypto markets.
Ethereum ETFs Gaining Ground
According to Dragonfly data analyst hildobby, Bitcoin ETFs currently hold about 6.38% of the total BTC supply, while Ethereum ETFs account for 5.08% of the ETH supply.
While Bitcoin retains the lead, the gap is closing quickly. At the current pace, Ethereum ETFs are projected to overtake Bitcoin ETFs as a share of circulating supply by September.
The shift comes even as both asset classes faced outflows this week. On August 18, Ethereum spot ETFs registered net outflows of $197 million, the second-largest daily exit in their history.
Bitcoin spot ETFs also saw redemptions, losing $122 million, though Bitwise’s BITB stood out as the only fund recording inflows.
ETH/BTC Reversal
Ethereum has been displaying renewed strength against Bitcoin in spot and derivatives markets. The ETH/BTC pair recently climbed to 0.0368, its highest level of the year, after hitting a six-year low in April.
Spot market dynamics show that last week, Ethereum’s trading volume was nearly three times that of Bitcoin, with the ETH/BTC spot volume ratio hitting an all-time high of 2.71.
ETH/BTC ratio. | Source: CryptoQuant
In derivatives, the ETH/BTC perpetual futures open interest ratio surged to 0.71, a level not seen in 14 months. It is clear that investors are now more interested in Ethereum than Bitcoin, making it a top crypto to buy in 2025.
Bitcoin Faces Its Own Battle
Bitcoin is facing a psychological and technical fight of its own. Market analytics firm Swissblock stated that Bitcoin could drop below $100,000 in September, pointing to the “$100k–$110k wall” formed by more than 100 days of trading above $100k.
Swissblock noted that this resistance level is not “indestructible,” but breaking it down would require significant bearish momentum. For now, the zone remains a major battleground for Bitcoin’s price direction.
A September to Watch
The convergence of ETF supply dynamics, ETH/BTC strength, and looming technical battles for Bitcoin sets the stage for a volatile September.
If Ethereum ETFs do surpass Bitcoin ETFs in terms of supply held, the discussions of ETH flipping BTC in the coming years could once again surface.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Source: https://www.coinspeaker.com/eth-etfs-to-overtake-btc-etfs-by-supply-held-in-september/
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