Ethereum

Bitcoin ETF

Bitcoin

Million

BlackRock

<p>On their debut day, the spot Ethereum ETFs saw notable trading volume of over $1 billion and net inflows of $107 million. BlackRock’s ETF led the pack, while the Grayscale Ethereum Trust (ETHE) had a less favorable impact. This mirrors the pattern observed with GBTC following the Bitcoin ETF launch in January.</p> 
<h2 id="spot-ethereum-etf-flows">Spot Ethereum ETF Flows</h2> 
<p>On the first day of launch, <a href="https://coingape.com/blackrock-ethereum-etf-goes-live-for-trading-what-to-expect-on-day-1/" target="_blank" rel="noopener">BlackRock Ethereum ETF</a> ETHA recorded $265 million in total inflows becoming the market leader among all of its peers.</p> 
<p>Bitwise Asset Management also managed to steal the limelight with the Bitwise Ether ETF (ETHW) seeing more than $200 million worth of inflows. This has been a pretty good beginning for the asset manager as it gives them an early lead in comparison to other market players like Fidelity.</p> 
<p>The Fidelity Ether ETF (FETH), on the other hand, has seen over $70 million in total inflows. Other players like Invesco, 21Shares, VanEck, and Franklin saw inflows to the tune of anywhere between $5-$15 million.</p> 
<p>As said, Grayscale ETHE played the major spoilsport recording a staggering $484 million of outflows which is 5% of the fund’s total $10 billion in assets under management. A day before, the asset manager has transferred $1 billion to the <a href="https://coingape.com/grayscale-transfers-292262-eth-just-before-ethereum-etf-trading-goes-live/" target="_blank" rel="noopener">Grayscale Ethereum mini-Trust</a> to provide the seed capital ahead of the launch event.</p> 
<p>Also Read: <a href="https://coingape.com/bitwise-ether-etf-reveals-10-profit-donation-to-ethereum-developers/" target="_blank" rel="noopener">Bitwise Ether ETF Reveals 10% Profit Donation To Ethereum Developers</a></p> 
<h2 id="day-1-trading-volumes-cross-1-billion">Day 1 Trading Volumes Cross $1 Billion</h2> 
<p>Bloomberg analyst Eric Balchunas reports that <a href="https://coingape.com/spot-ether-etf-hits-1-1b-volume-btc-dominance-under-threat/" target="_blank" rel="noopener">Ether ETFs</a> achieved a significant milestone on their first day of trading, with a total volume of $1 billion. This figure represents 23% of the volume that spot Bitcoin ETFs recorded on their debut. On the first day of launch, the spot Bitcoin ETFs registered nearly $5 billion in trading volumes.</p> 
<p>Notably, the BlackRock Ether ETF $ETHA alone accounted for 25% of the volume seen by the <a href="https://coingape.com/blackrock-bitcoin-etf-sees-0-5-billion-inflow-ibit-share-jumps/" target="_blank" rel="noopener">BlackRock Bitcoin ETF</a> $IBIT ETF on its first day.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">DAY ONE in the books for Eth ETFs who did $1b in total volume, which is 23% of what the spot bitcoin ETFs on their first Day and <a rel="nofollow" href="https://twitter.com/search?q=%24ETHA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETHA</a> did 25% of <a rel="nofollow" href="https://twitter.com/search?q=%24IBIT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$IBIT</a>‘s volume. The gap between <a rel="nofollow" href="https://twitter.com/search?q=%24ETHE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETHE</a> and The Newborn Eight is a healthy +$625m (a sizable chunk of which *should* convert to inflow <a rel="nofollow" href="https://t.co/jaP4dKLrOs">pic.twitter.com/jaP4dKLrOs</a></p> 
 <p>— Eric Balchunas (@EricBalchunas) <a rel="nofollow" href="https://twitter.com/EricBalchunas/status/1815848912185377005?ref_src=twsrc%5Etfw">July 23, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>On the other hand, the <a href="https://coingape.com/price/ethereum/" target="_blank" rel="noopener">Ethereum price</a> has remained largely stable trading around $3,450 as investors take a wait-and-watch approach with the reaction to market inflows.</p> 
<p>Also Read: <a href="https://coingape.com/markets/ethereum-price-set-to-outperform-bitcoin-as-sec-approves-eth-etf-trading/" target="_blank" rel="noopener">Ethereum Price Targets Rally Above $4000 As ETH ETFs Start Trading</a></p> 
<p>The post <a href="https://coingape.com/spot-ethereum-etf-register-105-million-inflows-first-day-blackrock-leads/">Spot Ethereum ETFs See $107 Million Inflows on First Day, BlackRock Leads</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

Spot Ethereum ETFs See $107 Million Inflows on First Day, BlackRock Leads

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