Ether ETFs See $107M Inflows on Day One as Trading Volume Tops $1B

Investors traded over $1 billion worth of shares of the freshly launched ether {{ETH}} exchange-traded fund (ETF) issuers on the first day of their availability, data from Bloomberg shows.
Of this $1 billion, there was a net inflow of $106.7 million, according to a tracker from SoSoValue. Most of the outflow came from Grayscale’s Ethereum Trust (ETHE), which saw $484 million in outflow.
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.
The BlackRock iShares Ethereum Trust ETF (ETHA) had the most inflow at $266.5 million, followed by Bitwise’s Ethereum ETF (ETHW) at $204 million.
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.
Many market observers had speculated that volume and flow for the ETH ETFs would be underwhelming due to a lack of staking mechanism.
Ether is currently trading below $3500, according to CoinDesk Indices data.
UPDATE (July 24, 07:00 UTC): Adds details on Ether ETF outflows.
UPDATE (July 24, 07:15 UTC): Rewrites headline to add net inflows.
Edited by Stephen Alpher.

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Helene is a New York-based reporter covering Wall Street, the rise of the spot bitcoin ETFs and crypto exchanges. She is also the co-host of CoinDesk’s Markets Daily show. Helene is a graduate of New York University’s business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.