Ethereum ETFs Registered Positive Flows on Their First Day
On its first day of trading, the U.S. spot Ethereum exchange traded funds (ETF) saw $1.08 billion in trading volume.
Net inflows to them equaled $106.6 million, despite significant withdrawals from Grayscale’s recently converted Ethereum Trust.
Leading the way was BlackRock’s iShares ETF (ETHA), which received $266.5 million in net inflows, while Bitwise’s ETHW attracted $204 million.
Fidelity’s FETH secured the third spot with a result of $71.3 million in inflows.
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Mt. Gox Has Once Again Transferred Billions of Dollars Worth of BitcoinsThese inflows were substantial enough to offset the outflows recorded by Grayscale’s ETHE, which reached $484.9 million.
Grayscale’s Ethereum Mini Trust, a separate lower-fee product, attracted inflows of $15.2 million. Franklin Templeton’s ETF (EZET) reported $13.2 million and 21Shares’ Core Ethereum ETF (CETH) attracted $7.4 million.
Overall, on their first day of trading, the spot ETH funds achieved a cumulative trading volume of $1.08 billion, according to data provided by Bloomberg ETF analyst James Seyfarth, which is 23% of the volume that the spot Bitcoin ETFs recorded on their debut.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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