POPA ReconThe 30D-SMA of US Spot ETF trading volume has contracted from $4.4B/day in October 2025 to $0.96B/day today, a 78% decline.
The 30D-SMA of US Spot ETF trading volume has contracted from $4.4B/day in October 2025 to $0.96B/day today, a 78% decline. Combined with the 49% drop in DAT company volumes flagged earlier, both TradFi channels for Bitcoin exposure are signalling the same thing: Speculative appetite for BTC in traditional markets has largely withdrawn. 📉 http://glassno.de/btc-etf-volume Quoting @glassnode: The 30D-SMA of total trading volume across BTC treasury companies has declined from $34.2B/day in Dec 2025 to $17.4B/day today, a 49% drop in roughly six months. Speculative interest in DAT equities tr…
The excerpt is quoted from a public Telegram channel, which owns its text.