Spot ether ETFs garnered $107.8 million in total inflows and exceeded a $1 billion in trading volume on their debut trading day.

Among the nine ETFs that began trading Tuesday, BlackRock's iShares Ethereum Trust (ETHA) was the top performer in terms of inflows, with $266.5 million, according to data analyzed by Bloomberg analyst James Seyffart. The Bitwise Ethereum ETF (ETHW) fared second best with $204 million in inflows. No other product among the new spot eth🐭er ETFs cracked $100 million of inflows.

Grayscale Reports Big Outflows

Grayscale Ethereum Trust (ETHE), which converted from an existing fund into an ETF Tuesday, had investors pull out a net $484.1 million, even though it remains the largest ether ETF by assets. These outflows were likely driven by 澳洲幸运5官方开奖结果体彩网:higher fees at Grayscale Ethereum Trust and weren't ꦏunexpected.

The outflows from Grayscale's ETHE are similar to, although more pronounced, than 澳洲幸运5官方开奖结果体彩网:what happened with the Grayscale Bit🐓coin Trust (GBTC) once spot bitcoin ETFs began trading in January. Some analysts expect investors pulling money from the new ETHE fund to 澳洲幸运5官方开奖结果体彩网:drag on ether prices (ETH) over the short term.

For comparison, the spot bitcoin ETF market posted $655.3 million of inflows on its first day of trading, according to Farside Investors. Despite the positive inflows♌ for the spot ether ETFs Tuesday, the price of ether was𒁏 down 1.3% in early trading Wednesday. By about 1 p.m. ET, it had recovered to be off just 0.08%.