Spot Ethereum ETFs opened for trading in the US. While interest in ETFs was intense in the first minutes, Bloomberg analyst Eric Balchunas shared how much entry there was in the first minutes.
Accordingly, the transaction volume of spot Ethereum ETFs exceeded 200 million dollars.
According to the analyst's post, the trading volume of spot Ethereum ETFs exceeded $200 million in 45 minutes since its launch.
Balchunas had previously stated that these ETFs saw a transaction volume of $112 million in the first 15 minutes.
The Bloomberg analyst noted that while these figures are significantly higher for a typical ETF launch, they were about half the first-day trading volume of Bitcoin ETFs.
Balchunas stated that ETH ETF performance exceeded expectations and highlighted Bitwise's early superior performance.
Note: my comp of the btc ETFs volume didn't include GBTC (at time I was excluding it bc it was a newborn) so if you add that in the Eth ETFs doing about a 20-25% of the volume of the btc ETFs. Regardless, very solid showing. FYI! https://t.co/2JC5xTzgKK
— Eric Balchunas (@EricBalchunas) July 23, 2024
*This is not investment advice.
