Ethereum's monthly spot trading volume reached $480 billion in August, surpassing Bitcoin's $401 billion.

Intense ETF demand, corporate treasury accumulation, and Ethereum’s price gains fueled the shift.

On September 4, 2025, The Block reported that Ethereum’s monthly spot trading volume on centralized exchanges surpassed Bitcoin’s for the first time in over seven years. Trading venues recorded approximately $480 billion for Ethereum in August, compared to $401 billion for Bitcoin.

The increase in Ethereum’s popularity was partly driven by corporate treasury accumulation. Publicly listed companies, such as BitMine Immersion and SharpLink Gaming, invested heavily in Ethereum, making multi-billion-dollar purchases throughout August. These acquisitions raised the total Ethereum holdings among public companies significantly.

Demand for spot Ethereum ETFs also contributed to the rise. U.S. spot ETH ETFs experienced net inflows totaling $3.95 billion during August, marking a stark contrast to Bitcoin ETFs, which saw net outflows of $301 million in the same period. Strong institutional participation further amplified this trend.

Ethereum's price growth added to its appeal. Year-to-date, Ethereum has surged by over 105%, whereas Bitcoin gained only 18%. This price outperformance prompted a rotation of capital, with certain major Bitcoin holders reportedly swapping their assets for Ethereum.

Institutional investors have increasingly adopted Ethereum as part of their strategy, viewing it as a “higher beta” investment due to its potential for greater volatility and higher returns. This shift in strategy highlights changing preferences among major holders in response to Ethereum’s recent market dynamics.

As of September 4, 2025, 15:11 UTC, Ethereum (ETH) is trading at $4,335.83, with a 2.96% decline in the past 24 hours, according to market data. Bitcoin (BTC), as of 15:12 UTC, is priced at $109,487.21, reflecting a 2.51% drop during the same period.