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The total trading volume of exchange-traded funds (ETFs) linked to Ethereum (ETH) spot prices surpassed $1 billion on the inaugural day, with net inflows into these funds reaching $106 million overnight. To assist market participants, Nansen introduced a new tool designed to monitor data related to spot Ethereum ETFs.
The trading volume for spot Ethereum ETFs exhibited notably high figures on the first day. As reported by Eric Balchunas, an ETF Analyst at Bloomberg, the total trading volume for eight spot Ethereum ETFs was approximately $1.08 billion on July 23.
The Grayscale Ethereum Trust (ETHE) and BlackRock iShares Ethereum Trust (ETHA) recorded the highest trading volumes at $458 million and $248.7 million, respectively. The Fidelity Ethereum Fund (FETH) ranked third with a turnover of $137.2 million, followed by the Bitwise Ethereum ETF (ETHW) at $94.3 million. The lowest performance on the first day was from the 21Shares Core Ethereum ETF (CETH), which had a trading volume of just $8.6 million.
The trading volume of spot Ethereum ETFs on the first day constituted roughly 23% of the corresponding figure for spot Bitcoin ETFs. The trading volume for spot Bitcoin ETFs on the first day exceeded $4.5 billion.
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The net inflow of capital into spot Ethereum ETFs by the end of the first trading day was $106.6 million, according to FarSide. Leading the inflows were investment products from BlackRock and Bitwise, with net inflows of $266.5 million and $204 million, respectively. The Fidelity fund followed in third place, with $71.3 million in net inflows for the day. The Grayscale Ethereum Trust (ETHE) experienced a decline of about 5% in its capitalization over the day, as investors withdrew $484.9 million from the fund. Analysts attribute this trend to the fund’s high fees and the six-month investment lock-up period imposed by Grayscale. Interestingly, the Grayscale Ethereum Mini Trust (ETH) fund reported a net inflow of $15.2 million during the day, as it has no fees until it reaches $2 billion in assets under management.
In light of the success of Ethereum investment products, analytics firm Nansen launched the ETH ETF Dashboard, a pioneering tool that monitors various metrics of spot Ethereum ETFs in real-time. This solution will enable market participants to more effectively track capital flows and trends within the ETF market.
The ETH ETF Dashboard offers comprehensive details on various metrics, including trading volumes, capital inflows, and other essential indicators that assist investors in making more informed decisions and gaining a better understanding of market dynamics. The Smart Alert feature will enable traders to utilize templates with pre-filled criteria to receive notifications regarding asset movements on Telegram, Discord, or Slack.
Spot Ethereum ETFs commenced trading in the United States on June 23 following the approval of their issuance by the U.S. Securities and Exchange Commission (SEC).
Сообщение Trading Volume of Spot Ethereum ETFs Exceeded $1 Billion on First Day of Trading появились сначала на CoinsPaid Media.
