Ethereum ETFs Surpass $600 Million in Volume, Headed Toward $900 Million

Key points to remember

• Ethereum ETFs hit $600 million in volume within three hours of the US market opening.
• Grayscale’s ETHE leads with $270 million in volume, while BlackRock’s ETHA follows with $133.5 million.

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Spot Ethereum (ETH) exchange-traded funds (ETFs) surpassed $600 million in volume in less than three hours of trading in the United States, according to That amount represents about 13% of the volume Bitcoin ETFs saw on their first day of trading, according to Bloomberg ETF analyst James Seyffart.

However, Eric Balchunas, an ETF analyst at Bloomberg and Seyffart’s colleague, Underlines that the volume seen by Ethereum ETFs is very significant, as ETFs rarely see more than $1 million in volume on launch day.

However, Seyffart estimates that Ethereum ETFs are on track to hit “a little under” $1 billion in transactions, though they could reach $940 million. That’s about 20% of the volume Bitcoin ETFs saw on their first day of trading, and is in line with Seyffart and Balchunas’ predictions. “The last 30 minutes of trading will be important,” added Seyffart.

Grayscale’s ETHE leads the way with nearly $270 million in volume, but Balchunas points out that this could be mostly outflows, while the rest of the ETFs are likely seeing inflows. If that’s the case, the analyst predicts total assets under management will hit $100 million today.

Excluding ETHE, BlackRock’s ETHA sees $133.5 million in volume and leads the pack by a comfortable margin. The only Ethereum ETFs with volume under $10 million at the time of writing are 21Shares’ CETH and Invesco’s QETH, which saw $5.2 million and $8 million, respectively.

Moreover, as some industry experts expected, the launch did not affect the price of ETH, which is down 1.6% in the last 24 hours and 0.7% in the last hour.

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