- Eight different issuers have launched Ethereum ETFs to both institutional investors and retail traders.
- Less than an hour after trading began, the spot Ethereum ETF's trading volume had accumulated to $200 million.
The Ethereum ETF officially landed on the U.S. stock market on Tuesday morning and has already generated a lot of trading volume. According to Yahoo Finance data compiled by The Block Pro Research, in less than an hour, the exchange-traded fund's trading volume reached $205 million. At around 10:45 a.m. ET, 75 minutes after the opening, the funds' trading volume reached $300 million.
Eric Balchunas, senior ETF analyst at Bloomberg, provided some context on the early data.
“Here’s the volume 15 minutes into trading. Total volume for the group is $112 million (huge compared to a normal ETF launch, but only half of the first day volume of the Bitcoin ETF, although 50% is off the charts in my opinion),” he said in a post on X. Balchunas noted that the comparison excludes GBTC, and if GBTC is included, the ETH ETF’s volume would be about 20% to 25% of the BTC ETF’s volume. “In any case, very solid performance,” he said.
In January of this year, the spot Bitcoin ETF debuted, which many in the industry hailed as the greatest ETF launch ever. These funds have seen cumulative trading volume of $300 billion in the first six months, with AUM peaking at $61.5 billion.
“I’m not expecting the same kind of frenzy that would be seen with a spot ether ETF,” Nate Geraci, president of the ETF Store, told The Block. “That being said, even if a spot ether ETF only attracted 20-25% of the assets in a spot bitcoin ETF, that would be a very successful outcome, and one that I think is absolutely achievable.”
