On the first day of the Ethereum spot ETF listing, the trading volume in the first 20 minutes was 1 million US dollars, while the trading volume of BTC in the first 20 minutes was 500 million US dollars, and the total trading volume was less than 30% of the first day of Bitcoin ETF listing.

Regarding ETH ETF, SoSoValue's research viewpoint believes that:

a. Selling pressure: Grayscale Ethereum Trust (ETHE, $9.2 billion), with a fee rate of 2.5%, will still bring early migration selling pressure, but it will be less than the impact of GBTC outflow;

b. Stock market purchasing power: The public consensus on Ethereum is far weaker than Bitcoin, resulting in fewer buyers;

c. Crypto purchasing power: The lack of 3%-5% basic staking yield on the ETH chain makes demand basically non-existent;

d. Long-term view: Ethereum ETF paves the way for other crypto assets to integrate into the mainstream world;

The cumulative trading volume of ETH spot ETF on the first day of listing on the US exchange exceeded 1.019 billion US dollars, of which Grayscale Ethereum Trust (ETHE) led with a trading volume of 456 million US dollars, accounting for nearly half of the total trading volume. The trading volume of BlackRock Ethereum Spot ETF (ETHA) was US$240 million, accounting for 24%, and the trading volume of Fidelity Ethereum Fund (FETH) was US$136 million, accounting for 13%.