Ethereum ETFs Make Historic Debut in U.S. with $107 Million in First Day Inflows

The launch of Ethereum exchange-traded funds (ETFs) in the United States occurred with significant excitement, generating a combined net inflow of nearly $107 million on their first day. The debut was notable, with over $1 billion in shares traded across nine new ETFs that hit the market. Leading the way was BlackRock Inc.’s iShares Ethereum Trust (ETHA), which reported inflows amounting to $266.55 million. Other strong performers included Bitwise Ethereum (ETHW) with $204 million and Fidelity’s Ethereum Fund (FETH) at $71 million.

This launch comes six months after U.S. regulators approved the first spot Bitcoin ETFs, which have seen impressive success with over $17 billion in net inflows this year. Industry experts, including Lennix Lai from OKX, suggest that the approval of Ethereum ETFs indicates a shift in how the Securities and Exchange Commission (SEC) views Ethereum, particularly in the context of proof-of-stake tokens. He notes that this could reduce regulatory uncertainty for businesses involved with such tokens and might lead to further ETF introductions in the sector.

On the same day as the Ethereum ETFs launched, Bitcoin spot ETFs witnessed a net outflow of $77.97 million, marking the first decline following a series of 12 days of net inflows. Grayscale’s GBTC and Ark & 21Shares’s ETF (ARKA) experienced notable outflows. Despite the challenges that Bitcoin ETFs faced, BlackRock’s IBIT managed to achieve a net inflow of $71.94 million. The contrasting performances between Ethereum and Bitcoin ETFs showcase a notable shift in investor interest and hints at a broader acceptance of cryptocurrencies beyond Bitcoin in the market.