Ethereum ETFs Debut
BTC Miners Return To Profitability, Ferrari Expands Crypto Payments To Europe
Following the SEC’s approval, spot Ethereum ETFs started trading on U.S. stock exchanges yesterday and saw $1 billion in trading volume on the first day.
For reference, Bitcoin ETFs saw $4.5 billion in trading volume on launch day in January. Ethereum ETFs seeing a fraction (~20%) of Bitcoin ETF volumes was expected.
SoSoValue's tracker showed a net inflow of $106.7 million of this $1.077 billion sum.
The ETFs came from 9 firms, and had different trading volumes: Grayscale ($461M), BlackRock ($244.7M), Fidelity ($138M), Bitwise ($100M), VanEck ($45M), Grayscale mini ($63.8M), Franklin ($15.9M), Invesco ($12M), 21Shares ($8.6M).
Investors can access over 70% of the liquid cryptoasset market through these ETPs, as per Bitwise Matt Hougan's comments.
This comes following the approval of S-1 forms for Nasdaq, NYSE Arca, and CBOE launches, and the asset managers waiving ETF fees for a limited period.
The price of Ethereum itself remained stagnant and hasn't seen surprising volatility.
Following the launch and the market reactions, investors and enthusiasts are shifting their focus on Solana and other altcoin ETFs.
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