Spot Bitcoin ETFs propel crypto space growth

18 months since the launch of spot Bitcoin ETFs, cumulative trading volume has hit $1 trn.

In the past 18 months, spot Bitcoin ETFs have played a major role in energizing the crypto space and advancing institutional adoption.

Recently, US Bitcoin ETFs reached a major milestone of $1 trn in cumulative trading volume, according to The Block’s data dashboard, underscoring the immense potential of institutional crypto adoption in the United States and beyond.

Spot Bitcoin ETFs: a game changer

The approval and launch of spot Bitcoin exchange-traded funds (ETFs) in early 2024 had a significant impact on boosting institutional participation and overall momentum in the crypto space, as many experts noted at the time.

Ophelia Snyder, co-founder of 21Shares, said the approval removed a major regulatory risk, shifting the asset’s risk-return profile and drawing more institutional investors.

“It’s not actually just about the US market,” she told Cointelegraph. “Once you remove this major risk of what is the US regulator going to do about Bitcoin, it changes what the risk-return profile of the asset is.”

Matt Hougan, Chief Investment Officer at Bitwise, added that wealth advisers started to adopt spot Bitcoin ETFs faster than any new ETF in history, signalling a rapid institutional embrace of these products.

Impressive numbers

Since the launch of spot Bitcoin ETFs, capital inflows into these new financial instruments have been substantial.

The funds grew substantially in the wake of their debut, reaching $100 bln in trading volume by March 2024 and $200 bln by April.

Following Donald Trump’s US presidential election victory in November 2024, spot Bitcoin ETFs received another major boost, surpassing $500 bln in cumulative volume. A few months later, they crossed the $750 bln mark in February.

In April 2025, US spot Bitcoin ETFs experienced yet another surge, with institutional investors injecting over eleven times the all-time average daily inflow. This wave was driven by strategic bullish positioning rather than arbitrage plays, signaling growing confidence in the market, experts observed. 

In contrast, the US spot Ethereum ETFs, launched in July 2024, have generated a cumulative trading volume of just over $80 bln so far.

On June 11, the Bitcoin ETFs' cumulative trading volume reached $1 trn.

This marks a significant milestone for Bitcoin funds, positioning them alongside some of the world’s largest and most established ETF products, such as the Vanguard S&P 500 ETF (VOO) and the Invesco QQQ Trust (QQQ) tracking the Nasdaq-100 Index.

Meanwhile, BlackRock’s iShares Bitcoin Trust (IBIT) had the most successful launch in the history of US ETFs, accumulating over $52.3 bln in assets in its first year. IBIT currently leads spot Bitcoin ETFs by trading volume, holding a 79% market share. Other major players include the Fidelity Wise Origin Bitcoin Fund (FBTC), ARK 21Shares Bitcoin ETF (ARKB) and Bitwise Bitcoin ETF (BITB).

Bright prospects

Experts believe that 2025 could surpass the achievements of 2024 for spot Bitcoin ETFs. 

Matt Horne, head of digital asset strategists at Fidelity Investments, was recently quoted by Coindesk as saying that demand exceeded expectations across all client segments, including retail investors, advisors and institutions.

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