A newly launched Ethereum spot ETF saw trading volume exceed $1 billion as expected on its first day of trading, according to data from Bloomberg. However, this data does not clearly indicate whether these transactions represent inflows or outflows of funds, nor can it be discerned whether the investors behind these transaction volumes are investing from a long-term investment perspective, or whether they are just for short-term gains such as through arbitrage trading. . Therefore, net fund inflow/outflow records are still a more important data indicator than transaction volume.
Except for BlackRock's ETHA, the net inflow/outflow data of other Ethereum spot ETFs have been released.
According to Bloomberg terminal data, Grayscale’s ETHE net outflow was as high as US$489 million. The seven currently known ETFs are still unable to fill this outflow. After adding up, there is still a net outflow of US$162 million. In other words, if ETHA’s net inflows fall below $162 million, the Ethereum spot ETF’s first-day performance will end with net outflows.
By comparison, the spot Bitcoin ETF saw $4.5 billion in trading volume on its first day of trading, while all ETFs combined saw about $600 million in net inflows.
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