Ethereum ETF Outperforms Expectations on Day One —What's Next?

On the first day of trading, U.S. spot Ethereum ETFs surpassed expectations, with total trading volumes exceeding $1 billion.

Grayscale's ETHE, along with BlackRock and Fidelity's ETH ETFs, recorded over $100 million each in trading volumes, while others like VanEck and Franklin reached over $10 million, except for 21Shares.

Data from Bloomberg indicated net inflows of $107 million, led by $266.5 million from BlackRock's ETHA and $204 million from Bitwise's ETHW.

However, Grayscale's ETHE experienced significant outflows of $484.1 million.

The first day's results outperformed analysts' expectations, with ETHA's trading volume reaching $258 million, approximately 26% of BlackRock's IBIT on its debut.

This exceeded predictions that ETH ETFs would achieve 20% of BTC ETF volumes.

Despite Grayscale's outflows, the overall performance was strong, with VanEck's ETH ETF surpassing its BTC ETF's debut day volume.

The price of ETH rose slightly by 1.25% to $3.54k but fell below $3.5k by the end of the day.

The market showed no significant sell pressure, indicating increased accumulation and movement of ETH to personal wallets.

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