The first spot Ethereum ETFs in the US hit the ground running on Tuesday, with several experiencing high trading volumes right out of the gate.

These first Ether ETFs recorded over $1b in total trading volume across nine funds. This impressive debut positions them strongly, although they didn’t surpass the massive launch of Bitcoin ETFs. Still, some even ranked among the top 50 highest-traded US ETF launches ever.

BlackRock’s iShares Ethereum Trust ETF emerged as a star performer on its debut day, according to analyst James Seyffart’s figures. The ETF racked up $258.6m in trading volume on its first day, placing it among the top performers ever for a new ETF launch.

UPDATE: First full day of flows for the ETHness stakes are in. The Ethereum ETFs took in $107 million. @BlackRock's $ETHA lead the way with $266.5 million followed by @BitwiseInvest's $ETHW with $204 million. Very solid first day pic.twitter.com/j28vIwVWvR

— James Seyffart (@JSeyff) July 24, 2024

Grayscale’s recently converted Ethereum ETF had a stellar debut, clocking in at nearly $470m in trading volume, which places it among the top 25 best-performing launches for ETFs ever. Meanwhile, another ETF from Bitwise Asset Management also enjoyed strong demand, exceeding $94m in trading volume.

While the top performers like BlackRock and Grayscale dominated the scene with hundreds of millions traded, the remaining six ETFs struggled to break the $100m mark.

In fact, 21Shares’ Core Ethereum ETF (ETHC) only saw $8.7 million on its first day.

This muted response is reminiscent of the Bitcoin ETF launch, where the initial $4.5b trading volume masked the fact that only $600m represented actual new investment.

Ether last traded around 1.3% lower on the day at $3,437.

The post Ethereum ETFs Surge Past $1 Billion in Trading on Debut Day appeared first on Cryptonews.

The first spot Ethereum ETFs in the US hit the ground running on Tuesday, with several experiencing high trading volumes right out of the gate.

These first Ether ETFs recorded over $1b in total trading volume across nine funds. This impressive debut positions them strongly, although they didn’t surpass the massive launch of Bitcoin ETFs. Still, some even ranked among the top 50 highest-traded US ETF launches ever.

BlackRock’s iShares Ethereum Trust ETF emerged as a star performer on its debut day, according to analyst James Seyffart’s figures. The ETF racked up $258.6m in trading volume on its first day, placing it among the top performers ever for a new ETF launch.

UPDATE: First full day of flows for the ETHness stakes are in. The Ethereum ETFs took in $107 million. @BlackRock's $ETHA lead the way with $266.5 million followed by @BitwiseInvest's $ETHW with $204 million. Very solid first day pic.twitter.com/j28vIwVWvR

— James Seyffart (@JSeyff) July 24, 2024

Grayscale’s recently converted Ethereum ETF had a stellar debut, clocking in at nearly $470m in trading volume, which places it among the top 25 best-performing launches for ETFs ever. Meanwhile, another ETF from Bitwise Asset Management also enjoyed strong demand, exceeding $94m in trading volume.

While the top performers like BlackRock and Grayscale dominated the scene with hundreds of millions traded, the remaining six ETFs struggled to break the $100m mark.

In fact, 21Shares’ Core Ethereum ETF (ETHC) only saw $8.7 million on its first day.

This muted response is reminiscent of the Bitcoin ETF launch, where the initial $4.5b trading volume masked the fact that only $600m represented actual new investment.

Ether last traded around 1.3% lower on the day at $3,437.

The post Ethereum ETFs Surge Past $1 Billion in Trading on Debut Day appeared first on Cryptonews.