- Exchange-traded funds for Ethereum, or spot Ethereum, comprising nine distinct ETFs from eight issuers, went live on Tuesday.
- With $456 million, the Grayscale Ethereum Trust held the largest share of the entire volume.
It was Ethereum ETH -1.18%’s turn to steal the show, seven months after Bitcoin made its dramatic Wall Street debut.
Spot Ethereum exchange-traded funds, which comprise nine distinct ETFs from eight issuers, commenced trading on Tuesday, transforming the typically reserved realm of ETF trading into an enormous opportunity.
Nearly half of the total volume, or $456 million, was accounted for by the Grayscale Ethereum Trust (ticker: ETHE). Next in line were Fidelity Ethereum Fund (FETH) (13%, or $136 million) and BlackRock’s iShare Ethereum Trust (ETHA) (24%, or $240 million).
The eleven bitcoin ETFs ranked #1 have accumulated a collective market value of around $60 billion and $330 billion in total volume.
I’m not anticipating that kind of craze surrounding spot ether ETFs, said Nate Geraci, president of The ETF Store. Nevertheless, even if spot ETFs (exchange-traded funds) exclusively attract 20–25% of the assets of spot bitcoin ETFs, that would still be a very good outcome and, in my opinion, very attainable.
James Seyffart of Bloomberg Intelligences remarked on X at approximately 3 p.m. EST on Tuesday that the $4.66 billion in activity at that point corresponded with $655 million in inflows for the first day of Bitcoin ETFs trading.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
