Spot Ethereum exchange-traded funds (ETFs) debuted with strong investor interest, achieving $361 million in trading volume within the first 90 minutes. This remarkable start places these ETFs among the top 1% in overall ETF volume, comparable to established funds like TLT and EEM.
Grayscale’s ETHE led the charge with $147.8 million in volume, followed by BlackRock’s ETHA at $71.4 million, and Bitwise’s ETHW at $50.4 million. Fidelity’s FETH also performed well, recording $49.3 million. Typically, new ETF launches struggle to exceed $1 million on their first day, making this achievement notable.
According to Bloomberg senior ETF analyst Eric Balchunas, the combined $361 million volume ranks these ETFs about 15th overall in ETF volume. This strong demand highlights the growing interest in Ethereum-based investment vehicles. Earlier, within the first 15 minutes of trading, Ethereum ETFs had already amassed $112 million in volume.
Although Ethereum ETFs are performing at about 20% to 25% of the volume recorded by Bitcoin ETFs, this still represents a solid showing. The successful launch of these ETFs is expected to boost Ethereum’s visibility and adoption in traditional markets.
Market watchers will be keen to see if this momentum continues and what it signals for the future of crypto ETFs.
