Ethereum ETFs Registered Positive Flows on Their First Day

On its first day of trading, the U.S. spot Ethereum exchange traded funds (ETF) saw $1.08 billion in trading volume.

Net inflows to them equaled $106.6 million, despite significant withdrawals from Grayscale’s recently converted Ethereum Trust.

Leading the way was BlackRock’s iShares ETF (ETHA), which received $266.5 million in net inflows, while Bitwise’s ETHW attracted $204 million.

Fidelity’s FETH secured the third spot with a result of $71.3 million in inflows.

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These inflows were substantial enough to offset the outflows recorded by Grayscale’s ETHE, which reached $484.9 million.

Grayscale’s Ethereum Mini Trust, a separate lower-fee product, attracted inflows of $15.2 million. Franklin Templeton’s ETF (EZET) reported $13.2 million and 21Shares’ Core Ethereum ETF (CETH) attracted $7.4 million.

Overall, on their first day of trading, the spot ETH funds achieved a cumulative trading volume of $1.08 billion, according to data provided by Bloomberg ETF analyst James Seyfarth, which is 23% of the volume that the spot Bitcoin ETFs recorded on their debut.

First day of the ETHness stakes done. The group’s volume was just shy of $1.1 billion. My *prediction* on flows for the day is anywhere from $125 million to $325 million but will depend on how many investors these firms had lined up. We’ll know some official flows in a few hours https://t.co/p6Wjty8VyY pic.twitter.com/1gYYrU1CW1

— James Seyffart (@JSeyff) July 23, 2024

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.