Spot Ether ETFs Amass $107M in Net Inflows on First Day of Trading

Jimmy Aki
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Spot Ether ETFs, which was approved on July 22 by the Securities and Exchange Commission (SEC) to begin trading on major stock exchanges, has just recorded an impressive figure of $106.6 million in inflows on its first day of trading yesterday.

This has left crypto analysts optimistic about the future prospects of Ethereum, with many expecting the price to soar before the end of the year.

Spot ETF Issuers and Their Respective Inflows on the First Trading Day

BlackRock’s iShares Ethereum Trust ETF (ETHA) recorded the highest net inflows worth $266.5 million. Bitwise Ethereum ETF (ETHW) came in second place with $204 million in net inflows, and The Fidelity Ethereum Fund ETF (FETH) came in third place with $71.3 million.

Grayscale’s Ethereum Mini Trust recorded inflows of $15.1 million, and Franklin Ethereum Fund ETF (EZETH) had $13.2 million inflows. VanEck Ethereum Fund ETF (ETHV), 21 Shares Ethereum Fund ETF (CETH), and Invesco Ethereum Fund ETF (QETH) generated net inflows of $7.6 million, $7.5 million, and $5.5 million, respectively.

These combined net inflows worth $590.7 million in total were able to offset Grayscale Ethereum Trust (ETHE), which saw huge outflows of $484.1 million, bringing the net inflows to a total of $106.6 million.

Crypto Traders Expect High-Performing Spot Ether ETFs to Boost the Price of Ethereum

Crypto traders are of the opinion that the high-performing numbers recorded by the spot Ether ETFs on the first day of trading could see Ethereum’s price soar in the next two months.

They believe that Ethereum, which currently trades at $3,446, is undervalued.
Crypto analyst Michaël van de Poppe stated on X that the Ether ETFs have become bullish as he sees a growing interest in it from outside investors, given that the demand for the funds in a day is almost the same as the supply in 2024.

In addition, crypto trader Daan Crypto Trades stated that the Ether ETFs’ performance on the first day of trading was decent.

He had earlier stated that Ethereum needs to hold at $3,350 to look strong, as he expected a lot of movement in the coming days surrounding the ETF launch.

Crypto trader Alessa Mutto also admitted that she is bullish about crypto and ETFs and believes they will go parabolic in the next few years. She also encouraged investors to buckle up for a wild ride, although not without saying that spot Ethereum inflows will tell where Ether’s price will go.

About Jimmy Aki PRO INVESTOR

Based in the UK, Jimmy is an economic researcher with outstanding hands-on and heads-on experience in Macroeconomic finance analysis, forecasting and planning. He has honed his skills having worked cross-continental as a finance analyst, which gives him inter-cultural experience. He currently has a strong passion for regulation and macroeconomic trends as it allows him peek under the global bonnet to see how the world works.