Spot Ethereum ETFs Surge in US Debut, Volume Reaches $1.05B On Day One

• Spot Ethereum ETFs in the US traded $205 million in the first hour, reaching $300 million after 75 minutes.
• First-day trading volume for the spot Ethereum ETFs totals $1.05 billion.
• The ETFs see a $106.7 million net inflow on day one, with BlackRock's iShares ETF leading at $266.5 million.

In May, the US Securities and Exchange Commission (SEC) approved the listing of several spot Ethereum exchange-traded funds (ETFs) on their respective exchanges. 

Spot Ether ETFs officially hit the US stock market on 23 July. According to a report, ETFs traded $205 million in less than an hour. Then 75 minutes after trading began, the total trading volume reached $300 million.

Bloomberg Senior ETF Analyst Eric Balchunas offered insights on the initial figures. In a post on X, he stated that the trading volume in the first 15 minutes totaled $112 million for the group, which is significant compared to a typical ETF launch but only about half of what bitcoin ETFs traded on their first day. 

However, he also believes that 50% would still exceed expectations.

Additionally, he pointed out that this comparison did not include GBTC. If GBTC were included, the ETH ETFs would account for approximately 20% to 25% of the trading volume of the BTC ETFs. 

Furthermore, according to a report, on the first day of trading, the ETFs saw a total of $106.7 in net inflow.

BlackRock's iShares ETF (ETHA) attracted $266.5 million, leading the pack, followed by Bitwise's Ethereum ETF (ETHW) with $204 million in net inflows. Fidelity's Ethereum Fund (FETH) secured third place with $71.3 million.

The report also suggests that the combined trading volume for these nine Ethereum ETFs reached $1.05 billion. Moreover, these ETFs have now accumulated more than $10 billion in managed assets.

Edited by Harshajit Sarmah