The cryptocurrency market witnessed a historic day as nine different Ethereum ETFs were traded on US exchanges today. This launch is an important indicator that interest in crypto assets has reached its peak in traditional financial markets.
Ethereum ETF trading was active in the first minutes
The excitement started with the opening bell. In the first 15 minutes, Ethereum ETFs reached $112 million in trading volume. This figure jumped to 361 million dollars in the 90th minute. Bloomberg senior ETF analyst Eric Balchunas noted that this volume puts the new Ethereum ETFs within the top 1% of ETFs from day one and on par with established funds like TLT and EEM. Grayscale’s ETHE fund took the lead with a trading volume of $458 million, followed by BlackRock’s ETHA with $248.7 million and Fidelity’s FETH with $137.3 million. There was also significant activity in Bitwise’s ETHW fund, with a volume of $94.3 million recorded.
Other players include Grayscale’s ETH fund ($63.8 million), VanEck’s ETHV fund ($44.3 million), Franklin Templeton’s EZET fund ($15.9 million), Invesco’s QETH fund ($12 million). million) and 21Shares’ CETH fund ($5.6 million). All these funds combined reached a total transaction volume of 1,083.4 million dollars. By noon, transaction volume continued to increase. As of 12:30 p.m., cumulative volume reached almost $600 million. Grayscale’s ETHE fund maintained its lead with 250 million shares traded, followed by BlackRock’s ETHA with $130 million. Fidelity’s Advantage Ether ETF recorded $77 million in volume, while Bitwise’s Ethereum ETF recorded $66 million in volume.
End of record day
Momentum continued to build as the trading day progressed. By 3 p.m. Eastern Time, total transaction volume had reached over $1.019 billion. Grayscale’s ETHE fund came out on top with $456 million, accounting for almost half of the total volume. BlackRock’s ETHA followed with 24% ($240 million), and Fidelity’s FETH fund came in third with 13% ($136 million).
Nate Geraci, President of The ETF Store, expressed optimism about the future of Ethereum ETFs, saying, “I don’t expect a craze like the Bitcoin ETFs, but if Ethereum ETFs attract 20-25% of the assets of Bitcoin ETFs, that will be a very successful one.” the result will be.” said. This sentiment was also supported by 10x Research founder Markus Thielen, who noted that Ethereum’s lower funding rate could impact institutional interest. However, strong initial volumes suggest there is strong demand for these new financial products.
The entry of Ethereum ETFs has set a new standard in the cryptocurrency market. This launch demonstrates investor interest and strong trading volumes. This not only increases Ethereum’s visibility, but is also a sign of crypto assets gaining acceptance in the mainstream financial market. As the market continues to evolve, Ethereum ETFs are poised to play a key role in the broader adoption of cryptocurrencies.
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