Two hours have passed since the start of trading in spot Ethereum ETFs. There are 9 funds on the market from various companies, such as Grayscale, Franklin Templeton, VanEck, Bitwise, 21Shares, BlackRock, Fidelity and Invesco Galaxy. Collectively, they have already surpassed the $200 million mark.
Let's look at the first results and forecasts, and also pay attention to the graph
Things to note:
1. The initial level of fund assets was $10.255 billion. Most of this is made up of ETH, including ETH held in Grayscale funds.
During the first 10 minutes of trading, 54% of#ETHE(Grayscale Ethereum Fund with 2.5% commissions) trading volume were active sell orders. This was expected. There will likely be stable selling pressure going forward. The question is whether, as in the case of the Bitcoin ETF, this supply will be overwhelmed by the demand of other issuers.
2. Within 10 minutes, Grayscale ETF (#ETHE) trading volume reached $70.52 million. Trading volume from Blackrock (#ETHA) was $30.03 million, and from Fidelity (#FETH) was $25.38 million. However, for now, sales seem to prevail over purchases.
In premarket demand for the instrument was lower than at the launch of the Bitcoin ETF. However, the very fact of activity was a good signal.
There are rumors that Elon Musk purchased ETH before the start of trading.
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