On the first day of their availability, investors traded more than $1 billion worth of shares of the newly launched ether exchange-traded fund (ETF) issuers, as reported by Bloomberg.
However, the trading volume does not provide any indication of inflows or outflows, and it is uncertain if the investments were made with a long-term or short-term perspective, such as for arbitrage trades.
For comparison, the spot bitcoin ETFs had a trading volume of $4.5 billion on launch day, but only about $600 million represented inflows.
Among the ether ETF issuers, Grayscale’s Ethereum Trust (ETHE) had the highest trading volume of nearly $458 million, accounting for almost half of the total volume. BlackRock’s iShares Ethereum Trust (ETHA) had a trading volume of $243 million, which is more likely to be indicative of inflows compared to the activity of the Grayscale fund.
The remaining six funds saw trading volumes below $100 million, with 21Shares’ Core Ethereum ETF (ETHC) having the lowest traction on the first day.
