Glassnode: Spot Bitcoin ETF Trading Volume Down 78% From Peak According to Glassnode data, the 30-day moving average trading volume of U.S. spot Bitcoin ETFs has fallen from $4.4 billion per day in October 2025 to just $960 million per day, a decline of 78%.
Combined with the previously reported 49% drop in DAT company trading volume, both major TradFi channels for Bitcoin are sending a similar signal: speculative demand for BTC from traditional financial markets has been steadily fading. — link