Ether ETF Volume Surpasses $1 Billion on First Day

Investors have traded more than $1 billion worth of shares of newly launched ether exchange-traded fund (ETF) issuers since day one, according to data from Bloomberg.

Volume represents the dollar amount of shares traded and does not provide any indication of whether these transactions represent entries or exits. It is also unclear whether the investments are made with a long-term vision or for short-term gains, such as arbitrage transactions.

For example, spot bitcoin ETFs saw $4.5 billion in trading volume on launch day, but only $600 million of that represented inflows.

Grayscale’s Ethereum Trust (ETHE) was the most traded product on the first day with around $458 million in volume, accounting for almost half of the total volume.

BlackRock’s iShares Ethereum Trust (ETHA) recorded $243 million in trading volume, which was much more than the Grayscale fund.

The other six funds all remained under $100 million, with 21Shares’ Core Ethereum ETF (ETHC) seeing the least interest on the first day.

With a total volume of $1.077 billion, the funds were able to record approximately 20% of the trading volume recorded by spot bitcoin ETFs on the launch day.