Spot Bitcoin exchange-traded fund (ETF) applications by world giants such as BlackRock and Fidelity brought an increase in cryptocurrency trading volumes after 3 months. Combined spot and derivatives trading volumes on centralized exchanges rose 14% to $2.71 trillion, according to a monthly report by on-chain analytics platform CCData.

On the other hand, the volume in the derivatives market reached 78.7% of the total volume of the crypto market. However, the latest data, compared to the rate of 79.1% in last May, was recorded as the first volumetric decline in the derivatives markets in a 4-month period.
According to analysts, this data has revealed that ETF applications are directing investors from derivatives markets to spot markets.
Commenting on the volume increases, CCData analysts touched on the impetus created by ETF filings:
According to the report, although there has been an increase in combined volumes, spot trading volumes have continued to hover at historical lows. The data revealed that spot trading volumes in the second quarter of 2023 remained at the lowest level since the fourth quarter of 2019.
On-chain analytics platform Kaiko stated that according to its quarterly report, spot trading volumes of cryptocurrencies on centralized exchanges declined by more than 60%, from an average of $4.7 trillion to $1.8 trillion in the previous quarter.
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