Spot Ethereum Exchange-Traded Funds (ETFs) debuted within the first 90 minutes of trading to robust investor interest, amassing a total volume of $361 million across the nine newly launched ETFs.
Bloomberg senior ETF analyst Eric Balchunas shared initial dates on social media, noting that this impressive start puts these ETFs in the top 1% of total ETF volume, comparable to established funds such as TLT and EEM.
Leading the way, Grayscale’s ETHE reported the highest volume at $147.8 million, followed by BlackRock’s ETHA at $71.4 million and Bitwise’s ETHW at $50.4 million. Fidelity’s FETH also saw significant activity: $49.3 million in volume.
The other ETFs that contributed to the remarkable 90-minute total are Grayscale’s ETH with $18.4 million, VanEck’s ETHV with $9.3 million, Franklin Templeton’s EZET with $8.5 million; Invesco’s QETH with $4.0 million and 21Shares’ CETH with $2.0 million.
These numbers highlight the strong demand for Ethereum-based investment vehicles, far exceeding the typical volume for new ETF launches, which often struggle to break above $1 million on their first day.
According to Balchunas:
“As a group, that number [$361 million] would rank them about 15th in ETF volume. Compared to a typical ETF launch, which rarely raises more than $1 million on day one, they all hit that number and then some.”
Previously, Balchunas had reported that Ethereum ETFs had already amassed $112 million in volume within the first 15 minutes of trading. This initial increase, while impressive, amounted to approximately half the volume pace of Bitcoin ETFs on the first day.
Balchunas noted that Ethereum ETFs are performing at around 20% to 25% of the volume recorded by Bitcoin ETFs when grayscale outflows are taken into account, which still represents a very solid result and is in line with his previous projections.
The successful initial trading in these Ethereum ETFs reflects investors’ growing interest in digital assets and their integration into mainstream financial products. This development is expected to further increase the visibility and adoption of crypto in traditional markets.
For now, market watchers will be curious to see if this strong start can be sustained all day and what it means for the future of crypto ETFs.