Spot Ethereum ETFs Register Over $1 Billion Inflow On Debut Day

Written by W, Leah

Last updated: 2024-07-24

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On the inaugural day, Ethereum ETFs witnessed a noteworthy trading volume, recording a net inflow of $107 million. BlackRock emerged as the frontrunner, while the Grayscale Ethereum Trust (ETHE) played the bigger spoilsport. Thus, the Grayscale Ethereum Trust seems to be making similar moves to the ones we saw with GBTC after the Bitcoin ETF launch in January.

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Ethereum ETF Flows
Trading Volumes Surpass $1 Billion on Debut Day

Ethereum ETF Flows

On the inaugural day, the BlackRock Ethereum ETF (ETHA) surged ahead of its competitors, amassing a total of 265 million ininflows,thereby establishing itself as the market leader.

However, the Fidelity Ether ETF (FETH) lagged behind, accumulating just over $70 million in total inflows. Meanwhile, other players like Invesco, 21Shares, VanEck, and Franklin have seen inflows ranging from $5 to $15 million, indicating a more modest start for these funds.

Bitwise Asset Management also managed to steal the limelight with the Bitwise Ether ETF (ETHW) seeing more than $200 million worth of inflows. This has been a pretty good beginning for the asset manager as it gives them an early lead in comparison to other market players like Fidelity.
However, it’s worth noting that Grayscale’s ETHE ETF experienced a significant setback, recording staggering outflows of $484 million, representing 5% of the fund’s total $10 billion in assets under management. This outflow occurred just a day after the asset manager transferred $1 billion to the Grayscale Ethereum mini-Trust to provide seed capital for its anticipated launch.

ETH USDT-margined perpetual futures contract with a leverage of up to 500x is available on BTCC, you can directly click the button below to trade Ethereum (ETH)⇓

[TRADE_PLUGIN]ETHUSDT,ETHUSDT[/TRADE_PLUGIN]

Trading Volumes Surpass $1 Billion on Debut Day

Bloomberg analyst Eric Balchunas reports that Ether ETFs achieved a significant milestone on their first day of trading, with a total volume of $1 billion. This figure represents 23% of the volume that spot Bitcoin ETFs recorded on their debut. On the first day of launch, the spot Bitcoin ETFs registered nearly $5 billion in trading volumes.

It is worthnoting that the BlackRock Ether ETF (ETHA) independently contributed 25% of the trading volume witnessed by BlackRock’s Bitcoin ETF (IBIT) on its first trading day.

In contrast, the Ethereum price has remained relatively stable, hovering around $3,450, as investors adopt a cautious wait-and-see attitude, observing the market’s response to the influx of funds.

[TRADE_PLUGIN]ETHUSDT,ETHUSDT[/TRADE_PLUGIN]

Where & How To Buy Ethereum (ETH)?

BTCC offers Ethereum (ETH) Perpetual Futures with leverage up to 500×, you can trade Ethereum (ETH) Perpetual Futures Contract on BTCC at the most competitive price and highest security.

The following sets forth the guidance for trading Ethereum (ETH) Perpetual Futures Contract on cryptocurrency exchange BTCC:

Step One: go to the BTCC homepage and log in to your BTCC account. If you do not have an account, you need to register first.

Step Two: on the BTCC official homepage, choose “Deposite” > “Fiat Deposit”, and then fund your account.

Step Three: go back to the BTCC official homepage, choose “Futures” -“USDT-M Perpetual Futures Contract”, and find the Ethereum (ETH) trading pair.

You can also click the button below to directly enter the Ethereum (ETH) trading page⇓

[TRADE_PLUGIN]ETHUSDT,ETHUSDT[/TRADE_PLUGIN]

Step Four: choose the contract trading order type. BTCC contract orders are divided into market orders, limit orders and SL/TP orders.

Market Order: users place orders at the best price in the current market to achieve fast trading.
Limit Order: Limit orders are a type of order to buy or sell futures at a price more favourable than the market price. When you buy at a price lower than the market price or sell at a price higher than the market price, the order will be in the form of a limit order.
SL/TP Order: SL/TP orders are a type of order to buy or sell futures at a price less favourable than the market price. When you buy at a price higher than the market price or sell at a price lower than the market price, the order will be in the form of a SL/TP order.

Step Five: adjust the leverage multiple.

Please keep in mind that operating leverage carries the risk of liquidation. Leverage should be adjusted based on your financial status and risk tolerance.

Step Six: choose the lot size and set the SL/TP price .

Step Seven: after setting the basic data information, users can choose to buy (open long) or sell (open short) after entering their ideal price. Traders should remind that the price cannot be higher or lower than the highest buying price or lowest selling price of the platform.

Step Eight: click the buy or sell button, and the Ethereum (ETH) futures contract order is completed.

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Spot Ethereum ETFs Register Over $1 Billion Inflow On Debut Day

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