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Ether ETFs See $107M Inflows on Day One as Trading Volume Tops $1B

Daily cumulative net inflow hit $106.78 million, with most ETFs in the green on the first day of trading.

By Helene Braun, Sam Reynolds|Edited by Stephen Alpher
Updated Jul 24, 2024, 5:58 p.m. Published Jul 23, 2024, 9:06 p.m. 1 min read
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  • Ether ETF volumes pushed past $1 billion on the first day of trading, with $106.78 million in net flow.
  • In comparison, the bitcoin ETFs had $4.5 billion in trading volume on their first day, and $600 million in net flow.

Investors traded over $1 billion worth of shares of the freshly launched ether {{ETH}} exchange-traded fund (ETF) issuers on the first day of their availability, data from Bloomberg shows.

Of this $1 billion, there was a net inflow of $106.7 million, according to a tracker from SoSoValue. Most of the outflow came from Grayscale's Ethereum Trust (ETHE), which saw $484 million in outflow.

(SoSoValue)
(SoSoValue)

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

The BlackRock iShares Ethereum Trust ETF (ETHA) had the most inflow at $266.5 million, followed by Bitwise's Ethereum ETF (ETHW) at $204 million.

With the overall trading volume maxing out at $1.077 billion, the funds saw roughly 20% of the trading volume that the spot bitcoin ETFs experienced on launch day in January.

Many market observers had speculated that volume and flow for the ETH ETFs would be underwhelming due to a lack of staking mechanism.

Ether is currently trading below $3500, according to CoinDesk Indices data.

UPDATE (July 24, 07:00 UTC): Adds details on Ether ETF outflows.

UPDATE (July 24, 07:15 UTC): Rewrites headline to add net inflows.


Ether ETFs

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