Ethereum ETFs (ETH-USD) had a debut as heroic as your favorite superhero, with trading volumes hitting over $1 billion and net inflows reaching $106.78 million on the first day, as reported by Bloomberg. To put it in perspective, Bitcoin ETFs had a towering $4.5 billion in trading volume on their debut, but only $600 million in net inflows.
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ETH’s Supercharged Launch
Leading the charge, the BlackRock iShares Ethereum Trust ETF (ETHA) soared with $266.5 million in inflows, while Bitwise’s Ethereum ETF (ETHW) followed with a robust $204 million. However, Grayscale’s Ethereum Trust (ETHE) faced kryptonite, enduring $484 million in outflows, according to SoSoValue.
ETH ETF Trading Volume Surprised Investors
Despite early predictions that ETH ETFs might not pack a punch due to the lack of a staking mechanism, the initial results were more than encouraging. These funds captured about 20% of the trading volume that Bitcoin ETFs boasted on their launch day back in January.
The launch of Ethereum ETFs has been nothing short of a superhero debut, with investor enthusiasm making a powerful statement. Bloomberg notes, “The initial response to Ethereum ETFs has been overwhelmingly positive, reflecting strong investor interest.”
What Is the Price of Ethereum?
At the time of writing, ETH is sitting at $3,436.
