Ethereum

Galaxy

Bitcoin

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>U.S. spot Ethereum ETFs debut with over $1 billion in trading volumes, surpassing expectations.</li> 
 <li>Grayscale’s ETHE was the only one to experience outflows, amounting to $484.1 million.</li> 
</ul>  
<p>The launch of U.S. spot <a href="https://coineagle.com/price/ethereum/">Ethereum</a> ETFs was a resounding success, exceeding $1 billion in trading volumes on their first day. </p> 
<h2 id="etf-debut-performance">ETF Debut Performance</h2> 
<p>BlackRock’s ETHA, Fidelity ETH ETFs, and Grayscale’s ETHE contributed to this with over $100 million in day 1 trading volumes. Other companies such as Vaneck, Franklin, and Invesco Galaxy also saw their ETFs reach daily trading volumes above $10 million. </p> 
<p>Bloomberg data shows that the products garnered $107 million in net inflows, with BlackRock’s ETHA and Bitwise’s ETHW leading the pack. However, Grayscale’s ETHE was the only one to experience outflows, which amounted to $484.1 million. </p> 
<h2 id="surpassing-analysts-estimates">Surpassing Analysts’ Estimates</h2> 
<p>Despite Grayscale’s outflows, the overall trading volume and net flows surpassed analysts’ estimates. Bloomberg analyst Eric Balchunas had previously predicted that the products would exceed the ‘20% of BTC ETF’ estimates if BlackRock’s volume surpassed $200 million. </p> 
<p>Sure enough, ETHA achieved a volume of $258 million by the end of the first day, equivalent to 26% of BlackRock’s IBIT first-day volume, and thus exceeding the estimates. Zaheer Ebtikar of crypto hedge fund Split Capital confirmed this by stating that the day 1 results surpassed analysts’ estimates. </p> 
<p>Vaneck’s Ethereum ETF (ETHV) even outperformed its BTC ETF based on day 1 performance. However, Grayscale’s ETHE had substantial outflows of $484.1 million on its first day, significantly more than GBTC’s $95.1 million outflow during its debut. </p> 
<p>Despite the successful debut of the ETFs, the price of <a href="https://coineagle.com/price/ethereum/">Ethereum</a> only increased marginally on the day, rising by 1.25% to hit $3.54k, before declining slightly below $3.5k. The spot market for Ethereum did not experience significant sell pressure following the ETF debut, as indicated by a drop in Exchange Netflow. This suggests more Ethereum was moved from exchanges than in, indicating increased accumulation of Ethereum sent to personal wallets. </p>

Ethereum ETF Launch Outperforms Bitcoin Predictions: What’s on the Horizon?

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