Spot Ethereum exchange-traded funds (ETFs) made a strong debut in the first 90 minutes of trading, attracting a total volume of $361 million across nine newly launched ETFs. Bloomberg senior ETF analyst Eric Balchunas shared the initial data on social media, highlighting the impressive start that ranks these ETFs among the top 1% in overall ETF volume.
The leading ETFs in terms of volume were Grayscale’s ETHE with $147.8 million, BlackRock’s ETHA with $71.4 million, Bitwise’s ETHW with $50.4 million, and Fidelity’s FETH with $49.3 million. Other ETFs also contributed to the total volume, including Grayscale’s ETH, VanEck’s ETHV, Franklin Templeton’s EZET, Invesco’s QETH, and 21Shares’ CETH.
This strong demand for Ethereum-based investment vehicles exceeded typical volume for new ETF launches, with Balchunas noting that these ETFs had already cleared $1 million on their first day, a significant achievement.
While the initial trading of Ethereum ETFs was impressive, it was about half the volume pace of Bitcoin ETFs on their first day. However, Ethereum ETFs still performed well, representing about 20% to 25% of the volume recorded by Bitcoin ETFs.
The successful trading of these Ethereum ETFs reflects increasing investor interest in digital assets and their incorporation into mainstream financial products, expected to enhance the visibility and adoption of crypto in traditional markets. Market watchers will be monitoring the performance of these ETFs throughout the day to gauge their future impact.
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