Analysis: Bitcoin ETF Trading Volume Drops 78% Since October 2025, Traditional Market Demand for BTC

On June 11, Glassnode reported that the 30-day moving average of the trading volume for U.S. spot Bitcoin ETFs has fallen from $4.4 billion per day in October 2025 to the current $960 million per day, a decrease of 78%. Coupled with a prior 49% drop in trading volume from DAT, both channels of exposure to Bitcoin in traditional financial markets are signaling the same trend: the speculative demand for BTC in the traditional market has significantly diminished.