Ether ETFs See Inflows of $107 Million on First Day, Trading Volume Exceeds $1 Billion
Daily cumulative net inflows reached $106.78 million, with most ETFs in the green on the first day of trading.
Investors traded more than $1 billion in shares of issuers of newly launched ethereum exchange-traded funds (ETFs) on the first day of their availability, Bloomberg data shows.
Of this $1 billion, there was a net inflow of $106.7 million, according to a SoSoValue tracker. Most of the outflow came from Grayscale's Ethereum Trust (ETHE), which recorded an outflow of $484 million.
Bitcoin spot ETFs, for example, recorded trading volume of $4.5 billion on the day of their launch, but only about $600 million of that amount represented inflows.
The BlackRock iShares Ethereum Trust ETF (ETHA) had the largest inflow with $266.5 million, followed by Bitwise's Ethereum ETF (ETHW) with $204 million.
With total trading volume peaking at $1.077 billion, the funds saw roughly 20% of the trading volume that spot bitcoin ETFs experienced on their launch day in January.
Many market observers had speculated that the volume and flow of ETH ETFs would be disappointing due to the lack of a staking mechanism.
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