Ethereum ETFs hit $300 million in trading volume in first hour of being live on the market
Eight different issuers launched ether ETFs to institutional investors and retail traders.Less than one hour into the trading session, spot Ethereum ETFs accumulated $200 million in trading volume.
Sopt Ethereum ETH +0.53% ETFs officially hit the U.S. stock market Tuesday morning and have already generated significant trading volume.
The exchange-traded funds accumulated $205 million in combined trading volume in less than an hour, according to Yahoo Finance data compiled by The Block Pro Research. At about 10:45 a.m. EST, or 75 minutes after the open, the funds hit $300 million in trading volume.
Bloomberg Senior ETF Analyst Eric Balchunas provided some context on the early numbers.
"I’m not expecting that type of frenzy around spot ether ETFs," Nate Geraci, president of The ETF Store, told The Block . "That said, even if spot ether ETFs only pull-in 20-25% of the assets of spot bitcoin ETFs, that would be a highly successful result and one that I think is absolutely achievable."
Kraken’s head of strategy predicted net inflows of $750 million to $1 billion per month for the first five to six months, The Block previously reported .
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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