Wow! The Ether ETF volumes have absolutely smashed it, surpassing $1 billion on the very first day of trading! And guess what? Almost half of that incredible volume came from Grayscale's Ethereum Trust. This could mean some serious outflows, folks!
According to data from Bloomberg, investors went wild, trading over $1 billion worth of shares in these brand-new ether exchange-traded funds. But hold up, trading volume is just the dollar amount of shares changing hands - it doesn't tell us if it's inflows or outflows. Are these investors in it for the long haul or just looking for quick gains through arbitrage trades?
Compare this to the spot bitcoin ETFs, which saw $4.5 billion in trading volume on their launch day, with only around $600 million of that being inflows. Grayscale's Ethereum Trust stole the show on day one, with a whopping $458 million in trading volume, while BlackRock's iShares Ethereum Trust saw $243 million - more likely to be inflows compared to Grayscale.
The other six funds didn't quite hit the $100 million mark, with 21Shares' Core Ethereum ETF getting the least action on day one. Overall, the trading volume hit $1.077 billion - that's around 20% of what the spot bitcoin ETFs saw on their launch day back in January.
What a day for Ether ETFs! Here's to more record-breaking volumes and exciting trading days ahead! Let's keep the momentum going! 🚀🌟
