Crypto trading volumes experienced a significant rebound in June, marking the first monthly increase in three months. The surge in activity was initially fueled by the filing of spot bitcoin exchange-traded fund (ETF) proposals by asset management giant BlackRock, Fidelity, and other prominent institutions. However, prices dropped briefly after the SEC rejected the companies’ initial ETF filings.

According to the latest Exchange Review by CCData, centralized exchanges saw a 14% increase in trade volume, reaching a total of $2.71 trillion over the last quarter. This indicates a positive shift after the sustained period of decline since March.

Despite the surge, spot trading volumes remain relatively low in historical terms. CCData’s report highlights the spot trading volume in the second quarter of this year was the lowest since the fourth quarter of 2019. However, market interest has renewed, being driven by revised ETF filings from Fidelity, BlackRock, and others. 

In terms of the derivatives market, June witnesses a 14% increase in trading volumes, accounting for 78.7% of the entire crypto market. While this indicates a positive trend, it represents a slight drop from May’s 79.1%, marking the first derivatives market share in four months. Notably, the report highlights the growing institutional interest in BTC futures, as volumes surged by 28.6% to $37.9 billion, representing the highest volume traded since November 2021.