Spot Ethereum ETFs saw a significant trading volume and net inflow on their debut day, recording $107 million in inflows. BlackRock led the market while the Grayscale Ethereum Trust (ETHE) experienced notable outflows.
First-Day Ethereum ETF Flows
On their first day of launch, Ethereum ETFs achieved a combined trading volume of $1 billion, amounting to 23% of the volume recorded by spot Bitcoin ETFs on their debut. BlackRock's Ethereum ETF (ETHA) stood out, recording $265 million in total inflows and securing the market leader position among its peers.
Bitwise Asset Management's Bitwise Ether ETF (ETHW) also performed well, attracting over $200 million in inflows, giving the asset manager an early lead over competitors such as Fidelity. The Fidelity Ether ETF (FETH) saw over $70 million in inflows, while other players like Invesco, 21Shares, VanEck, and Franklin recorded inflows between $5 million and $15 million.
However, Grayscale Ethereum Trust (ETHE) was a major detractor, experiencing a staggering $484 million in outflows, equivalent to 5% of its $10 billion in assets under management. This came a day after the asset manager transferred $1 billion to the Grayscale Ethereum mini-Trust to provide seed capital ahead of the launch.
Day 1 Trading Volumes Cross $1 Billion
Bloomberg analyst Eric Balchunas reported that Ether ETFs achieved a significant milestone on their first trading day, with total volumes reaching $1 billion. This figure represents 23% of the volume that spot Bitcoin ETFs recorded on their debut, which totaled nearly $5 billion.
Notably, BlackRock's Ether ETF (ETHA) alone accounted for 25% of the volume seen by BlackRock's Bitcoin ETF (IBIT) on its first day. Despite the trading activity, Ethereum's price remained stable around $3,450, as investors adopted a wait-and-see approach to the market inflows.
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