Investors
traded
over
$1
billion
worth
of
shares
of
the
freshly
launched
ether
exchange-traded
fund
(ETF)
issuers
on
the
first
day
of
their
availability,
data
from
Bloomberg
shows.
Trading
volume
simply
represents
the
dollar
amount
of
shares
exchanged
and
doesn’t
give
any
insights
into
whether
these
trades
signal
inflows
or
outflows.
It
is
also
unclear
whether
investments
were
made
with
a
long
term
vision
or
for
short
term
gains
in
the
form
of
arbitrage
trades,
for
example.
The
spot
bitcoin
ETFs,
for
example,
saw
$4.5
billion
in
trading
volume
on
launch
day
but
only
roughly
$600
million
of
that
represented
inflows.
Grayscale’s
Ethereum
Trust
(ETHE)
turned
out
to
be
the
most
traded
on
day
one
with
volume
of
nearly
$458
million,
or
nearly
half
of
the
overall
volume.
BlackRock’s
iShares
Ethereum
Trust
(ETHA)
saw
$243
million
in
trading
volume
–
with
this
far
more
likely
to
be
inflows
versus
the
action
the
Grayscale
fund.
All
other
six
funds
saw
below
$100
million
with
21Shares’
Core
Ethereum
ETF
(ETHC)
seeing
the
least
traction
on
day
one.
With
the
overall
trading
volume
maxing
out
at
$1.077
billion,
the
funds
saw
roughly
20%
of
the
trading
volume
that
the
spot
bitcoin
ETFs
experienced
on
launch
day
in
January.