Ethereum (ETH) has overtaken Bitcoin in spot trading volume for the first time in seven years, marking a pivotal moment for the global crypto market. Data from centralized exchanges shows that in August 2025, Ethereum’s monthly and weekly spot volume surpassed Bitcoin’s, signaling renewed institutional and retail interest.
Market analyst TedPillows highlighted the milestone on X, noting that ETH on-chain volume reached $346.14 billion last month. This surge marks Ethereum’s highest trading level in a year, building on momentum from June and July.
Bitcoin, meanwhile, showed early September recovery after a temporary dip in trading volume from $450 million to $150 million. By September 3, BTC trading surged back past $111,000, restoring confidence in the market.
Ethereum’s boom is largely fueled by institutional demand. Companies like BitMine Immersion and SharpLink Gaming disclosed multi-billion-dollar ETH purchases, adding to public company treasuries. Analysts also point to U.S. spot ETH ETFs as a key factor in attracting investors.
Senior director at Wincent, Paul Howard, emphasized the trend, stating that Bitcoin whale wallets are increasingly rotating into ETH. Rising institutional adoption and potential rate cuts could further propel Ethereum’s dominance throughout 2025.
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