Key points
- ethereum ETFs hit $600 million in volume within three hours of the US market opening.
- Grayscale’s ETHE leads with $270 million in volume, while BlackRock’s ETHA follows with $133.5 million.
Share this article
<img alt="Follow crypto Briefing on Google News” width=”140″ height=”41″ src=”https://technicalterrence.com/wp-content/uploads/2024/04/HashKey-Group-to-Launch-Ethereum-Layer-2-Network.png”/><img src="https://technicalterrence.com/wp-content/uploads/2024/04/HashKey-Group-to-Launch-Ethereum-Layer-2-Network.png" alt="Follow crypto Briefing on Google News” width=”140″ height=”41″/>
ethereum (eth) spot exchange-traded funds (ETFs) surpassed $600 million in volume in less than three hours of trading in the US. x.com/JSeyff/status/1815799532195655800″ rel=”noopener nofollow noreferrer”>according According to Bloomberg ETF analyst James Seyffart, the amount is roughly 13% of the volume recorded by bitcoin ETFs on their first day of trading.
<blockquote class="twitter-tweet” data-width=”500″ data-dnt=”true” wp_automatic_readability=”10.005361930295″>
Update with data as of 1:30. And formula correction. ethereum ETFs are on track to be just under $1 billion in trades, on track to hit $940 million with 2.5 hours remaining. The $932 million would be 20% of the btc ETF's Day 1
The last 30 minutes of trading will be important https://t.co/Bn1TvywQD6 image.twitter.com/UGRod2rp86
—James Seyffart (@JSeyff) twitter.com/JSeyff/status/1815804544288449004?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener noreferrer”>July 23, 2024
However, Eric Balchunas, a Bloomberg ETF analyst and colleague of Seyffart, x.com/EricBalchunas/status/1815767604453138738″ rel=”noopener nofollow noreferrer”>Outstanding that the volume shown by ethereum ETFs is very significant, as ETFs rarely exceed $1 million in volume on launch day.
However, Seyffart believes ethereum ETFs are on track to “fall a little short” of $1 billion in trading, though they could reach $940 million. This is roughly 20% of the volume recorded by bitcoin ETFs on their first day of trading and is in line with Seyffart and Balchunas’ predictions. “The last 30 minutes of trading will be important.” x.com/JSeyff/status/1815804544288449004″ rel=”noopener nofollow noreferrer”>aggregate Seyffart.
<div class="ai-rotate ai-unprocessed” data-shares=”WzEwMF0=” style=”position: relative;”>
<div class="ai-rotate-option” style=”visibility: hidden;” data-index=”1″ data-name=”U0lNRVRSSQ==”>
