Bitcoin ETF trading volume fell to US$8.05 billion, hitting a new low since October 2024

Weekly trading volume of U.S. spot bitcoin ETF fell to US$8.05 billion, hitting a new low since October 2024.

In the past week, the total trading volume of U.S. spot bitcoin exchange-traded funds (ETFs) reached US$8.05 billion, setting the lowest level for the combined five trading days since October 2024.

Bitcoin ETF inflows slow down and volatility decreases.

Data showed that ETF trading volume this week fell 14% from the previous week's US$9.37 billion. Although there was a lower weekly trading volume in April 2025, it only included four trading days due to the market holiday. Among the full five trading days, the latest week is the lightest period for trading since mid-October 2024.

Throughout the week, Bitcoin prices hovered around $64,000, well below their high late last year. Prices fluctuate extremely little, resulting in reduced trading activity and, consequently, fewer opportunities for short-term traders.

The net inflow of spot Bitcoin ETF this week was US$33.8 million, achieving net inflow of funds for the third consecutive week. Previously, in the eight weeks ending in early July, this type of ETF suffered continuous capital outflows. However, the latest data slowed down from $75.7 million the previous week and $197.4 million two weeks ago.

Markets took a sharp turn during the week: as of Wednesday, net inflows had reached $499.1 million, but then there was a massive outflow of $225.2 million on Thursday and another $240.1 million on Friday. The outflows almost wiped out gains accumulated earlier in the week.

BlackRock's IBIT, the largest Bitcoin ETF, recorded a $414.7 million outflow on Thursday and Friday alone, with a net outflow of approximately $95.5 million throughout the week. The ARK21 Shares Bitcoin ETF and the Gray Scale Bitcoin Mini Trust partially offset these withdrawals, attracting net inflows of $85.8 million and $78.1 million, respectively.

Spot Bitcoin ETF net inflows reached $499.1 million on Wednesday, but large outflows on Thursday and Friday almost offset these gains, resulting in net inflows of just $33.8 million this week.

Ethereum ETF has strong inflows, outperforming Bitcoin products

Spot Ethereum ETF attracted US$103.9 million in new funds last week, more than three times the net inflow of Bitcoin ETF. This marks the third consecutive week that the Ethereum ETF has achieved positive inflows and has surpassed the Bitcoin ETF for two consecutive weeks. The previous week, the Ethereum fund attracted $105.4 million, compared with $75.7 million for Bitcoin funds.

As of the weekend, the assets under management of the Ethereum ETF reached US$10.17 billion, approximately one-eighth of the US$77.82 billion held by the Bitcoin ETF. Over the past three weeks, the two types of funds have seen similar cumulative inflows: net inflows to the Ethereum ETF of $293.8 million and the Bitcoin ETF of $306.9 million.

BlackRock's iShares Ethereum Trust contributed most of the Ethereum ETF's inflows, with a net inflow of US$96.3 million. Gray Ethereum Mini Trust followed closely with a net inflow of $9.9 million. Fidelity's FETH recorded a $6.2 million outflow. Ethereum ETF trading volume reached US$2.78 billion, which is approximately 35% of Bitcoin ETF trading volume.

The weekly net inflow of spot Ethereum ETF was US$103.9 million, surpassing the Bitcoin ETF for the second consecutive week.

Capital outflows still drag on year-to-date performance

Although July showed signs of recovery, capital inflows did not offset previous losses. Since January, the Bitcoin ETF has still had a net outflow of US$5.23 billion year-to-date, maintaining a negative trend in capital flows throughout the year. The Ethereum ETF had a net outflow of approximately US$1.15 billion over the same period, despite recent growth.

In July, Ethereum led the recovery, with net inflows of $337.7 million, compared with $234 million for Bitcoin. On July 11, both types of ETFs ended eight consecutive weeks of capital outflows, with a total net inflow of US$281.8 million, but this was only a partial recovery of US$9.46 billion in capital outflows in the previous two months.

The Bitcoin ETF previously ended a 13-day withdrawal of funds on June 5, with a cumulative redemption of more than US$4.4 billion since mid-May. The Ethereum ETF also ended 17 consecutive days of capital decline on the same day.

Data showed that institutional investors cut their Bitcoin exposure by 17% in the first quarter, reflecting an extensive reassessment of crypto asset allocation. On June 5, Bitcoin ETF funds flowed out of $326 million, including a $214 million outflow from BlackRock IBIT, highlighting the continued volatility in investor sentiment.

As of Saturday morning, Bitcoin was trading at approximately US$64,368, and Ethereum was trading around US$1,875.