Spot Ethereum ETFs ended the first trading session after listing with a total volume of about $1.08 bln – 23% of the spot BTC ETFs’ first day. How can trading be assessed? How successful is it? And will there be a rotation of investment into Ethereum from Bitcoin now?
So far, data is available only for the maiden trading day, when spot ETH ETFs were launched. The bulk of the inflows fell to Grayscale’s Ethereum Trust (ETHE). Its share accounted for about $222 mln. Next came BlackRock’s Ethereum Trust (ETHA), which attracted about $117 mln, and Fidelity’s Ethereum Fund (FETH) ($70.6 mln), which also performed well. Overall, the Big Three showed impressive results.
In the future, investors will opt for ETFs with acceptable transaction fees as there have been quite a lot of such complaints against Grayscale. But since all these companies are essentially “pioneers” in this sector, there is little competition at this stage.
By and large, the debut of spot ETH ETF trading can be regarded as quite successful. There is strong interest among investors in such a product, mainly due to its availability.
Thus, for the time being there is no serious reason to expect a rotation of demand from BTC ETFs as each asset has its own fan base.