Crypto Spot Trading Plummets 22% in Q2 2025 Amid Broader Market Shifts

New data released by crypto analytics platform TokenInsight reveals a significant downturn in cryptocurrency spot trading volumes during the second quarter of 2025. Cointelegraph, a leading crypto news outlet, drew attention to the findings with a concise tweet stating, "> Dive into the data 👇 https://t.co/przF2Y6PHB". The report highlights a stark contrast between declining spot markets and the robust performance of Bitcoin Exchange-Traded Funds (ETFs).

According to the TokenInsight report, crypto spot trading volumes on major centralized exchanges (CEXs) experienced a substantial 22% decline, falling from $4.6 trillion in Q1 2025 to $3.6 trillion in Q2. This extended slump saw the average daily spot trading volume drop by 23%, from $52 billion to $40 billion, primarily driven by a decrease in altcoin trading activity and overall liquidity.

In contrast to the struggling spot markets, crypto derivatives trading demonstrated relative resilience. Derivatives volumes totaled $20.2 trillion in Q2 2025, marking only a modest 3.6% dip from $20.9 trillion in the previous quarter. TokenInsight's research team noted that traders continued their preference for high-frequency derivatives trading to hedge risks and leverage market volatility amidst ongoing economic uncertainty.

Despite the overall contraction in spot trading, Bitcoin ETFs emerged as a significant growth area. Major issuers, including BlackRock, reported an impressive 370% surge in inflows during Q2. Global crypto Exchange-Traded Products (ETPs) collectively attracted $17.8 billion in inflows during the first half of 2025, with BlackRock alone accounting for nearly $15 billion of that total.

This surge in institutional interest and inflows into Bitcoin funds contributed to a strong rebound in Bitcoin's price, which surged 25% over Q2. The TokenInsight report projects that spot trading volumes will likely remain subdued in Q3 2025, fluctuating between $3 trillion and $3.5 trillion, due to limited liquidity and weak altcoin spot market activity. Exchange tokens are also expected to show divergent performance in the coming quarter.