On their first day of trading, Ethereum ETFs saw significant activity. Investors traded over $1 billion worth of shares of the newly launched ether (ETH) exchange-traded funds (ETFs), according to Bloomberg data.

Impressive Inflows

From this $1 billion, there was a net inflow of $106.78 million, as reported by SoSoValue. Notably, Grayscale’s Ethereum Trust (ETHE) experienced a substantial outflow of $484 million. In contrast, the BlackRock iShares Ethereum Trust ETF (ETHA) led the pack with an inflow of $266.5 million, followed by Bitwise’s Ethereum ETF (ETHW) with $204 million.

Comparisons with Bitcoin ETFs

For context, the spot bitcoin ETFs had a trading volume of $4.5 billion on their launch day, but only about $600 million of that was net inflow. The Ethereum ETFs’ trading volume of $1.077 billion represented roughly 20% of what the spot bitcoin ETFs saw on their first day in January.

Market Observations

Many market analysts had anticipated lower volumes and inflows for the ETH ETFs due to the absence of a staking mechanism. Despite these predictions, the Ethereum ETFs managed to draw significant investor interest and capital on their debut.