Despite growing interest in US-based Bitcoin ETFs, they currently only account for a tiny 13% of total trading volume. In contrast, leading cryptocurrency exchanges like Binance process significantly higher volumes, highlighting the continued dominance of centralized platforms. This data suggests that while ETFs are gaining traction, their influence on the broader crypto market is limited. Binance, in particular, processes nearly double the volume of all US Bitcoin ETFs combined, emphasizing the preference for direct trading through centralized platforms by both retail and institutional investors outside the US. These platforms offer 24/7 trading, wider asset selection, margin trading, and global access, features that traditional ETFs are yet to fully replicate due to limitations in market hours and regulatory restrictions. Although Bitcoin ETF launches have been touted as a significant step toward mainstream crypto adoption, their low trading volume indicates they’re still in early stages. The future of ETFs may depend on factors such as regulatory clarity, investor education, and reduced volatility. However, their presence brings institutional credibility and opens up a safer entry point for traditional investors as the market matures.