Bloomberg ETF analyst Eric Balchunas assessed the trading activity from the new wave of Ethereum products, collectively labeled the “Newborn Eight,” stating that the trading volume of around $625 million, excluding Grayscale’s ETHE, was “healthy.” Balchunas is optimistic about future inflows, predicting that a “sizeable chunk” of the trading volume will transition into investments in these ETFs. Fellow analyst James Seyffart shared a range for potential inflows, estimating between $125 million and $325 million, though actual results will largely depend on prior investor interest.
The introduction of these Ethereum ETFs follows a significant decision by the U.S. securities regulator to allow important filings necessary for their launch on major exchanges like the Nasdaq and NYSE Arca. Several firms, including Fidelity, 21Shares, and Bitwise, are offering competitive fee structures, waiving costs for an initial period or until certain asset thresholds are met. For the upcoming months, the fees for most spot Ether ETFs will range from 0.15% to 0.25%, significantly lower than ETHE’s fee of 2.5%. BlackRock’s discounted fee for the initial year is set at 0.12%. Ether itself was trading around $3,470 on its first day, maintaining a range between $3,400 and $3,500.
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