The trading volume of the U.S. spot Bitcoin ETF hit a nine-month low last week
In the five trading days ended of last Friday, the total trading volume of the U.S. spot Bitcoin ETF was approximately US$8.05 billion. This was the most flat week for these funds since October 2024. At the same time, Ethereum-related products attracted net inflows of funds for the third consecutive week.
Bitcoin ETF trading volume fell to a nine-month low
Data showed that trading volume fell 14% from the previous week's US$9.37 billion. There was a lower weekly trading volume in April 2025, but there were only four trading days at that time (U.S. markets were closed for Good Friday). If calculated in a full five trading days, this is the lowest level since the week of October 11, 2024.
Bitcoin traded around $64,000 for most of the week, well below its high at the end of last year. Trading activity slowed down due to limited room for price fluctuations.
Bitcoin funds had net inflows of approximately US$33.8 million this week, the third consecutive week of net inflows since a record eight-week net outflows ended in early July. However, this week was the weakest of the three weeks-net inflows in the previous two weeks were $75.7 million and $197.4 million, respectively.
There is a sharp inversion under the surface data. As of Wednesday, the funds had attracted approximately $499.1 million in funding. But investors withdrew $225.2 million on Thursday and another $240.1 million on Friday, almost wiping out most of the week's gains.
BlackRock's IBIT, the largest fund in the category, lost $414.7 million in two days alone, down about $95.5 million this week. The ARK21 Shares Bitcoin ETF and the Grayscale Bitcoin Mini Trust eased the impact, attracting approximately $85.8 million and $78.1 million respectively.
Ethereum ETF once again overtook Bitcoin funds
Spot Ethereum ETF's net inflow this week was approximately US$103.9 million, more than three times the inflow of Bitcoin ETF, and achieved net capital growth for the third consecutive week. This is the second consecutive week that Ethereum products have outperformed larger competitors. The previous week, Ethereum had a net inflow of $105.4 million, while Bitcoin had only $75.7 million.
As of last Friday, the total net assets of the Ethereum ETF were US$10.17 billion, about one-eighth of the Bitcoin fund (US$77.82 billion). But over the past three weeks, the two types of funds have raised almost equal amounts: about $293.8 million for Ethereum and about $306.9 million for Bitcoin.
Among the Ethereum inflows, BlackRock's iShares Ethereum Trust contributed $96.3 million, Grayscale Ethereum mini Trust increased $9.9 million, and Fidelity's FETH lost $6.2 million. The trading volume of the Ethereum ETF is US$2.78 billion, which is approximately 35% of the trading volume of Bitcoin funds.
The recent surge in capital inflows has not fully compensated for this year's losses. Since January, the cumulative net outflow of Bitcoin ETF has been approximately US$5.23 billion, and the cumulative net outflow of Ethereum Fund has been approximately US$1.15 billion. Ethereum led the recovery in July, with net inflows of approximately $337.7 million, compared with $234 million for Bitcoin.
These two types of funds ended eight consecutive weeks of net outflows on July 11, with a combined net inflow of US$281.8 million. But this only recovered a small portion of the approximately $9.46 billion outflow in the previous two months.
Earlier, Bitcoin funds ended a record 13-day outflow of funds on June 5. Previously, Bitcoin funds have suffered more than $4.4 billion in redemptions since mid-May. On the same day, the Ethereum ETF also ended a 17-day decline.
On June 5 alone,$326 million of funds left the Bitcoin Fund, of which $214 million came from BlackRock's IBIT. Data shows that professional investors have cut their Bitcoin exposure by 17% in the first quarter.
As of Saturday morning, Bitcoin was trading at approximately US$64,368, while Ethereum was trading at approximately US$1,875.

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