Worrying Sign? 6-Month Trading Volume Low for the US Bitcoin ETFs



The United States spot Bitcoin exchange-traded fund (ETF) market recorded a daily trading volume of $779.87 million on Monday.

According to analytical data from SoSoValue, this decreased daily traded volume is the third lowest after the February 5th and 6th records, which were $649.17 million and $692.11 million, respectively.

Low Bitcoin ETF Trading Volume

Yesterday’s record showed an inflow of $61.98 million into the spot Bitcoin ETFs, the highest since August 8th. Still, the daily trading volume dropped from its usual range above $1 billion.

Last week, the financial product recorded a trading volume between $1.18 billion and $1.79 billion. Interestingly, the spot Bitcoin ETF saw a significantly high daily trading volume above $5 billion earlier this month. The surge came amid a sudden price drop for the leading cryptocurrency.

Highlighting the possible trigger for the latest drop in Bitcoin ETF trading volume in the U.S., the SOFA.org Head of Insights Augustine Fan stated:

The low trading volume is expected as the market sentiment has remained low since the heavy sell-offs a few weeks ago. It is also worth noting that summer holidays and lowering concerns about imminent recession with recent data have left investors to wait for more signals on the Fed’s Jackson Hole meeting later this week.

BlackRock’s IBIT Leads With Over $450M

BlackRock’s IBIT led the daily trading volume metrics with $450.53 million. Its inflow on Monday was $92.68 million, the highest among a slew of similar products. Fidelity’s FBTC trailed BlackRock with a daily trading volume of $134.51 million and an inflow of $3.87 million.

Both Bitcoin ETFs were the only ones that saw inflow records. Their leading positions are partly tied to several prominent industry leaders opening their doors for clients to invest in IBIT or FBTC. Others have expanded their tentacles into other spot Bitcoin ETFs.

Meanwhile, Bitwise’s BITB saw an outflow of $25.7 million, the highest from yesterday’s record. Invesco’s BTCO recorded a $8.84 million outflow.

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