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<p>As the initial enthusiasm fades, spot Bitcoin ETFs in the United States are experiencing a marked slowdown in their activity. The daily trading volume has reached its lowest level since early February, signaling a wait-and-see period in the crypto market.</p>
<h2 id="h-a-market-in-a-consolidation-phase">&nbsp;A Market in a Consolidation Phase</h2>
<p>The frenzy that followed the launch of <a href="https://www.cointribune.com/en/bitcoin-and-ether-etfs-plunge-after-trump-euphoria/" target="_blank" rel="noopener noreferrer nofollow">spot Bitcoin ETFs</a> seems to be waning. On Monday, the total trading volume plunged to $779.87 million, reaching its lowest level since February 6. This dramatic drop contrasts sharply with the peak of $5.24 billion recorded on August 6.</p>
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<p>Augustine Fan, an analyst at SOFA.org, <a href="https://www.theblock.co/post/311997/spot-bitcoin-etf-lowest-volume-since-february" target="_blank" rel="noopener noreferrer nofollow">explains</a> this phenomenon: “<em>Market sentiment has remained low since the heavy sell-offs a few weeks ago</em>.”</p>
<p>He also points out the impact of summer vacations and the easing of recession fears, prompting investors to adopt a wait-and-see posture ahead of the Fed meeting in Jackson Hole.</p>
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<h2 id="h-contrasted-capital-flows-between-bitcoin-and-ethereum">Contrasted Capital Flows between Bitcoin and Ethereum</h2>
<p>Despite the decline in trading volume, spot Bitcoin ETFs recorded net inflows of $61.98 million. <a href="https://www.cointribune.com/en/crypto-blackrock-surpasses-grayscale-and-becomes-the-new-king-of-etfs/" target="_blank" rel="noopener noreferrer nofollow">BlackRock (IBIT)</a> and Fidelity (FBTC) funds particularly benefited from this influx, with $92.68 million and $3.87 million in inflows, respectively. However, these gains were partially offset by significant outflows from other funds, notably $25.72 million for Bitwise’s ETF.</p>
<p>On the Ethereum front, the situation is less rosy. <a href="https://www.cointribune.com/en/crypto-a-30-plunge-for-ethereum-with-the-arrival-of-spot-etfs/" target="_blank" rel="noopener noreferrer nofollow">Spot Ether ETFs</a> saw their lowest trading volume since their launch, totaling approximately $124 million. The nine funds recorded net outflows of $13.52 million, mainly due to the Grayscale ETHE fund.</p>
<p>Fan attributes this caution to “<em>a lack of clarity on the legal aspects of staking</em>” and recent controversies surrounding <a href="https://www.cointribune.com/en/crypto-solana-etfs-struggle-to-convince/" target="_blank" rel="noopener noreferrer nofollow">Solana ETFs</a>.</p>
<p>In summary, this period of low activity in spot Bitcoin ETFs reflects a market in search of <a href="https://www.cointribune.com/en/crypto-market-crash-altcoin-season-at-risk/" target="_blank" rel="noopener noreferrer nofollow">new catalysts</a>. While Bitcoin maintains a price around $60,000, investors seem to be adopting a cautious approach, waiting for clearer signals before committing further. The evolution of this market in the coming weeks will be crucial in determining the long-term trajectory of these financial instruments.</p>

Bitcoin Spot ETFs Slow Down: A Historic Low Since February

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