Trading Volume of Spot Ethereum ETFs Reaches $1B on First Day

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Seven months after Bitcoin made its debut on Wall Street, it was now Ethereum’s turn to take the spotlight. Trading of spot Ethereum on exchanges began on Tuesday through nine different ETFs, issued by eight different companies.

This caused a frenzy in the usually stable world of ETF trading. During their first day on US exchanges, these Ethereum ETFs generated a total trading volume of over $1.019 billion.

The Grayscale Ethereum Trust (ETHE) took the lead, with a trading volume of $456 million, accounting for almost half of the total. This was followed by BlackRock’s iShare Ethereum Trust (ETHA) with 24% ($240 million) and Fidelity Ethereum Fund (FETH) with 13% ($136 million).

The 11 existing Bitcoin ETFs have a combined market capitalization of nearly $60 billion and have generated a cumulative trading volume of $330 billion.