Spot Ethereum ETFs Trading Volume Surpassed $1 Billion on the First Day
The first day of trading for spot Ethereum ETFs has gone beyond expectations with incredible volume and inflows.
At first market analysts and experts forecasted that spot Ethereum ETFs will not attract that much investments.
However, this is not the case, as the daily inflows reached over $885.3 million with a trading volume $1.137 billion. Grayscale Ethereum Trust (ETHE) and the Fidelity Ethereum Fund (FETH) recorded the highest inflows out of all 9 instruments.
In comparison during the first day of trading for spot Bitcoin ETFs, the trading volume reached $4.66 billion with a $655 million daily inflows.
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Is the Altcoin Season Approaching?At the time of writing Ethereum is trading at $3,488 after a 1.35% surge in the past hour and hasa trading volume of around $23.6 billion
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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