US Bitcoin ETF Surge Drives Global Shift in BTC, ETH, SOL Spot Trading Volume from US to Asia

Published: 2025-06-03 10:33:21 |

Global spot trading volumes for Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) have shifted notably, with the US market share falling below 45%—the lowest since late 2024—according to FalconX data. At the start of 2025, US traders dominated with over 55% of spot volume, but now Asia has rapidly grown to capture nearly 30%, while Europe covers the remainder. This shift suggests US investors are moving toward other crypto financial products, particularly Bitcoin spot ETFs, while non-US investors, especially in Asia, are becoming more influential. Despite strong price rallies in BTC (40%), ETH (87%), and SOL (68%) since April, overall spot trading activity remains suppressed, with daily BTC volumes under $10 billion. A major factor in this landscape is the sharp rise of US-listed Bitcoin spot ETFs—whose market share doubled to 45% in just two months and attracted over $44 billion in new inflows, especially with BlackRock’s IBIT. ETF-driven demand now acts as the primary engine for this bull run, influencing liquidity and potentially market leadership in the months ahead. Traders should monitor evolving trading patterns and global capital flows, as these changes could impact volatility and opportunities in major crypto markets.

Bullish

The news reveals a fundamental shift in global crypto trading as US spot volumes for major assets like BTC, ETH, and SOL decrease while Asian market activity rises. Most importantly, the US-listed Bitcoin spot ETFs have rapidly gained market dominance, with their share of global spot BTC volume jumping from 25% to 45% in two months and driving strong net inflows (over $44 billion). This indicates robust institutional and retail demand via regulated ETF channels, which has historically boosted prices and market confidence. Although traditional spot trading volumes are subdued, the powerful demand from ETFs, coupled with positive price momentum across major cryptocurrencies, points to a sustained bullish sentiment. This ETF-led dynamic is likely to underpin further upward price movement and attract new capital, especially as global capital flows adjust. For crypto traders, these developments signal a shift in liquidity dynamics and possible new market leaders, supporting a continued bullish outlook in both the short and medium term.