Summary
TLDR: Despite encouraging recovery, ETF activity is slowing down, with daily trading turnover now at US$5.4bn, down 36% from its peak 3 weeks ago, but still well above the 2023 average of US$347m, indicating the initial market hype is cooling.
Key Points
1. ETF activity is slowing down, with daily trading turnover now at US$5.4bn, down 36% relative to its peak 3 weeks ago.
2. This slowdown in ETF activity is seen as a cooling of the initial market hype surrounding cryptocurrencies.
3. Despite the slowdown, the current daily trading turnover is still well above the US$347m 2023 average.