• Spot Ethereum ETFs generated around $937 million in cumulative trading volume on Wednesday, their second day of trading
• The ETFs recorded $1.067 billion in net inflows on Tuesday, their first day on the market
• The Grayscale Ethereum Trust (ETHE) led with about $486 million in trading volume on Wednesday, accounting for around 52% of the total volume
The Block recently published an article reporting that spot Ethereum ETFs generated around $937 million in cumulative trading volume on their second day of trading.
Launch Performance
The ETFs recorded $1.067 billion in net inflows on Tuesday, their first day on the market, according to data from SosoValue. The Grayscale Ethereum Trust saw $4.841 million in net outflows, the only fund with outflows.
Bloomberg Intelligence’s James Seyffart said the ETF launch pretty much met his expectations. “If we compare it to a standard ETF launch, it was a smashing success,” Seyffart said.
Second Day Trading Volume
On their second day of trading, the Ether ETFs traded nearly $1 billion in cumulative volume. The Grayscale Ethereum Trust (ETHE) led with about $486 million, accounting for 52% of the total volume.
BlackRock’s iShare Ethereum Trust (ETHA) saw $255 million in volume, while Fidelity Ethereum Fund (FETH) traded $110 million.
Comparisons to Bitcoin ETFs
The article notes that spot Bitcoin ETFs saw $7.797 billion in outflows on Tuesday, ending a 12-day inflow streak. Some see this as early signs of rotation from Bitcoin into Ethereum ETFs.
Bitwise’s Teddy Fusaro pointed out that Ethereum ETFs traded about 75% of the volume of Bitcoin ETFs on Wednesday, higher than he expected.
Key Takeaways
The launch of spot Ethereum ETFs has seen significant trading volume and inflows in their first days of trading. Some experts believe this indicates strong interest in diversified crypto asset exposure through ETF products. The funds saw higher proportional volume compared to Bitcoin ETFs.
