Ethereum

Spot

James

United States-listed spot Ether exchange-traded funds (ETFs) generated around $1.08 billion in cumulative trading volume on their first day of trading — roughly 23% of what spot Bitcoin ETFs saw on their opening day.
The converted Grayscale Ethereum Trust (ETHE) and BlackRock’s iShares Ethereum Trust (ETHA) saw the most volume on July 23, with $458 million and $248.7 million, respectively, <a href="https://x.com/EricBalchunas/status/1815848912185377005" target="_blank" rel="noopener nofollow">according</a> to preliminary data from Bloomberg ETF analyst Eric Balchunas. 
The Fidelity Ethereum Fund (FETH) and Bitwise Ethereum ETF (ETHW) rounded out the top four with $137.2 million and $94.3 million, respectively, while the 21Shares-issued spot Ether ETF came in last, failing to crack the $10 million mark. 
Balchunas said the <a href="https://cointelegraph.com/news/ether-etfs-trading-preliminary-inflow-data-revealed">$625 million in volume</a> seen from the “Newborn Eight” products — excluding Grayscale’s ETHE — was “healthy” and expects a “sizeable chunk” of that sum will convert to inflows.
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 <img src="https://s3.cointelegraph.com/uploads/2024-07/fa16d1e5-a7af-475e-938a-b99a0f2afc12.png" alt="Spot Ethereum ETFs debut with over $1B in trading volume" title="">
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 Source: <a href="https://x.com/JSeyff/status/1815849216012333400" target="_blank" rel="noopener nofollow">James Seyffart</a>
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Fellow Bloomberg ETF analyst James Seyffart expects the inflows to range between $125 million and $325 million, but that will depend on how many investors these firms have lined up.
In January, spot Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) ETFs saw $655.2 million in inflows on its first day of trading, including a $95 million outflow from Grayscale’s converted Bitcoin ETF.
Related: <a href="https://cointelegraph.com/news/blackrock-bitcoin-etf-inflows-biggest-since-march">BlackRock Bitcoin ETF records biggest inflow day since March at $523M</a>
It comes a day after the <a href="https://cointelegraph.com/news/spot-ethereum-etfs-begin-trading-sec-approval">US securities regulator made effective</a> the final S-1 forms necessary for the products to launch on the Nasdaq, NYSE Arca and <a href="https://cointelegraph.com/news/cboe-official-launch-date-spot-ethereum-etf">Chicago Board Options Exchange</a>.
Fidelity, 21Shares, Bitwise, Franklin and VanEck&nbsp;<a href="https://cointelegraph.com/news/ethereum-etfs-coming-what-you-need-know">have waived fees</a> on their ETFs for a set period or until the products reach a certain amount in net assets.
After that, all spot Ether (<a href="https://cointelegraph.com/ethereum-price">ETH</a>) ETFs barring ETHE will offer a base fee between 0.15% and 0.25%.&nbsp;ETHE’s fee remains at 2.5%.
BlackRock offers a discounted fee of 0.12% for the first 12 months or until the fund reaches $2.5 billion in net assets, whichever comes first. After that, it will increase to 0.25%.
The Grayscale Ethereum Mini Trust will start at a 0.12% fee and move to 0.25% after 12 months or $2 billion in net assets is reached, while the Invesco Galaxy-issued spot Ether ETF is set at 0.25%.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-07/2c4ce773-3a39-4a44-a1c0-35e71ba4ce96.png" alt="Spot Ethereum ETFs debut with over $1B in trading volume" title="">
 <figcaption style="text-align: center;">
 Source:<a href="https://x.com/JSeyff/status/1813693107214717181" target="_blank" rel="noopener nofollow"> James Seyffart</a>
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Ether <a href="https://cointelegraph.com/news/ethereum-ether-price-mvrv-metric-cryptocurrency-analysts">trades&nbsp;at $3,470</a> at the time of publication, hovering between $3,400 and $3,500 on the first trading day for the spot ETFs.
Magazine:<a href="https://cointelegraph.com/magazine/bitcoin-price-ethereum-etf-thomas-fahrer/"> Bitcoin $500K prediction, spot Ether ETF ‘staking issue’— Thomas Fahrer, X Hall of Flame</a>

Spot Ethereum ETFs debut with over $1B in trading volume

Cointelegraph

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