Weekly trading value for bitcoin spot exchange-traded funds (ETFs), measured over five trading sessions, fell to its lowest level since October 2024.

On July 25 (all times local), blockchain media outlet Cryptopolitan reported that bitcoin spot ETFs recorded about $8.05 billion in trading value over the five trading days through last Friday. That was down 14 percent from $9.37 billion the previous week. Weekly turnover was lower than this in April 2025, but that count covered only four sessions because U.S. stock markets were closed for Good Friday.

The slowdown in trading coincided with a stagnant bitcoin price. Bitcoin moved around $64,000 for most of the past week, staying some distance from last year-end highs. This is seen as having dampened traders' activity.

Fund flows also turned sharply lower late in the week. Bitcoin spot ETFs posted about $33.8 million of net weekly inflows, extending an inflow streak to three weeks. Compared with $75.7 million the prior week and $197.4 million the week before that, the pace of inflows weakened sharply.

Looking only at the intrawEEK pattern, the reversal was larger. About $499.1 million flowed into bitcoin spot ETFs through Wednesday last week, but $225.2 million flowed out on Thursday and $240.1 million on Friday, wiping out most of the week’s cumulative inflows.

BlackRock's iShares Bitcoin Trust (IBIT) in particular recorded $414.7 million of net outflows over two days. ARK-21Shares' bitcoin spot ETF and the Grayscale Bitcoin Mini Trust drew $85.8 million and $78.1 million, respectively, absorbing part of the shock.

By contrast, ethereum spot ETFs recorded about $103.9 million of net inflows over the same period, more than three times the bitcoin spot ETF inflow total. Ethereum spot ETFs extended net inflows to three consecutive weeks and have drawn more money than bitcoin spot ETFs for the past two weeks. The previous week, ethereum spot ETFs also saw $105.4 million of inflows, topping the $75.7 million for bitcoin spot ETFs.

There was still a wide gap in assets under management. As of Friday, net assets of ethereum spot ETFs stood at $10.17 billion, about one-eighth of the $77.82 billion for bitcoin spot ETFs. The gap in cumulative inflows over the past three weeks was not large. Ethereum spot ETFs recorded $293.8 million, while bitcoin spot ETFs posted $306.9 million.

In ethereum, BlackRock's iShares Ethereum Trust (ETHA) led inflows with $96.3 million. The Grayscale Ethereum Mini Trust recorded $9.9 million of net inflows, while Fidelity's FETH posted $6.2 million of net outflows. Weekly trading value for ethereum spot ETFs was $2.78 billion, about 35 percent of bitcoin spot ETF turnover.

Despite a recent rebound, year-to-date performance had not yet recovered. Bitcoin spot ETFs have seen about $5.23 billion of net outflows since January, and ethereum spot ETFs have also had about $1.15 billion leave. In July, ethereum spot ETFs drew about $337.7 million, topping the $234.0 million for bitcoin spot ETFs.

These products recorded $281.8 million of net inflows on July 11, ending an eight-week run of outflows. But the amount that left over the previous two months totalled about $9.46 billion, limiting the extent of the recovery. Bitcoin spot ETFs also halted a 13-trading-day outflow streak on June 5, and cumulative redemptions since mid-May at that time exceeded $4.4 billion. On the same day, ethereum spot ETFs also ended a 17-trading-day outflow streak.

A reduction in bitcoin exposure among professional investors was also confirmed. CoinShares tallies showed that professional investors' bitcoin allocation fell 17 percent in the first quarter. Against that backdrop, shifts in fund allocation between bitcoin and ethereum appear to be continuing in the spot ETF market.

The trend shows that asset size and the pace of inflows do not necessarily move in the same direction. While bitcoin spot ETFs faced slower trading and redemption pressure, ethereum spot ETFs have increased their presence in recent inflows.