Spot Bitcoin ETFs Report Third Lowest Daily Volume as Market Awaits Fed Signals

Monday’s daily trading volume among U.S. spot Bitcoin ETFs was the lowest since early February—less than $780 million. While Ether ETFs reported $13.52 million in net withdrawals, spot Bitcoin ETFs experienced $61.98 million in net inflows within this lower activity.

Monday’s total transaction volume for spot Bitcoin ETFs was $779.87 million, a notable decline from the $5.24 billion seen on August 6, according to SoSo Value statistics. Since the funds introduced, this is the third lowest daily transaction volume overall. Ongoing market volatility and the influence of the summer vacations help to explain the fall in trade activity.

“The low trading volume is expected as market attitude has remained low since the heavy sell-offs a few weeks ago” said Augustine Fan, Head of Insights at SOFA.org. He also pointed out that the low market activity results from investors waiting for indications from the Jackson Hole conference of the Federal Reserve later this week.

BlackRock’s IBIT on Monday saw $92.68 million in net inflows; Fidelity’s FBTC contributed $3.87 million. These gains were countered, meanwhile, by $25.72 million in net withdrawals from Bitwise’s spot Bitcoin fund and $8.84 million in negative flows from Invesco’s BTCO.

With about $124 million exchanged, Spot Ether ETFs also saw their lowest day trading volume since their launch. Grayscale’s ETHE topped the withdrawals with $20.30 million; its Ethereum mini trust saw meager inflows of $4.92 million. ETHW fund bitwise contributed $1.87 million.

Relatedly, Cboe BZX withdrew their Solana ETF registrations after the U.S. Securities and Exchange Commission allegedly raised issues with Solana’s possible security status with prospective Solana ETF issuers.

Bitcoin’s price increased 2.38% during the previous 24 hours to $60,935; Ether jumped 1.31% to $2,668. Though macroeconomic mood has improved, Fan pointed out that Bitcoin is range-bound around the $60,000 level and that worries of supply selling influence pricing. By comparison, Ether keeps having minimal mainnet utilization as compared to its layer-2 alternatives.

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