For the first time in almost seven years, Ethereum's spot trading volume on centralized exchanges has topped Bitcoin's, indicating a significant shift in crypto markets. In August 2025, Ethereum's total spot volume surpassed Bitcoin's $401B.
This move is being driven by strong institutional demand. U.S. spot Ethereum ETFs are seeing $3.95B in net inflows during the month. In this period, Bitcoin ETFs experienced $301M in withdrawals.
Corporate treasury purchases have also supported Ethereum's ascent, with big companies making multibillion-dollar acquisitions and increasing public corporation ETH holdings. Ethereum is up more than 105% year to year, compared to 18% for Bitcoin, indicating a shift in investor sentiment toward the higher-beta asset.
Data shows Bitcoin whale wallets are progressively transferring to Ethereum, with new all-time highs expected in the fourth quarter, particularly with anticipated U.S. interest rate cuts on the way. This milestone suggests that Ethereum's utility and risk profile are becoming more widely accepted. This puts Ethereum in a solid position for future growth in the expanding digital asset market.
