The post ETH ETFs volume soars past $1b appeared on BitcoinEthereumNews.com.

ETH volume soars past $1 billion during the first 24 hours. The recent surge sparks investors optimism. After long months of waiting,  Ethereum [ETH] Exchange-traded funds (ETFs) went live on 23rd July. The crypto community has been eagerly awaiting the approval of ETH ETFs. Since the approval of BTC ETFs early this year, the market has been buzzing with speculation about the approval of other ETFs. ETH ETF hits past $1 billion CBOE approved nine ETH ETFs last week, and the NYSE cleared them for trading. Within the first few hours of trading, volumes started at $110 million and reached $600 million shortly. Since the trading started, ETH ETF trading volume has surged by over $1 billion by the close of business day. The record shocked the market by hitting over 23% of what BTC ETFs did on the first day of trading. During these trading hours, Ishares ETH Trust (ETHA) did a 25% over the counterpart IBIT’s volume. For instance, ETHA recorded $694.5 million on the first trading day, while ETHE reached $248 million. This shows that ETH exchange-traded funds are doing much better than BTC, and there is heightened excitement around Ethereum ETFs because of market affordability. Source: X Notably, the surge has brought increased discussion within the community as analysts share different opinions. For Instance, Eric Balchunas shared his analysis on his X page comparing Ether’s ETF performance with BTC ETF’s months ago. He noted that, “I was curious how the Eth ETFs would rank in Day One volume vs all 600 or so new launches in the past 12mo, but *excluding* the BTC ETFs and $ETHA would be #1 (by a lot), $FETH #2, $ETHW #5 and $ETH 7th, and $ETHV in 13th spot. And $CETH, which was lowest among the group, would still rank in…

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Filed under: News - @ July 25, 2024 10:26 am