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This is how the first trading day of the Ethereum Spot ETF went

About a billion in trading volume, BlackRock leading, Grayscale selling: the Ethereum Spot ETF is having a solid start.

By Finst News
• 2 min read
Zo verliep de eerste handelsdag van de Ethereum-Spot-ETF

About a billion in trading volume, BlackRock leading, Grayscale selling: the Ethereum Spot ETF is having a solid start.

In total, there was about a billion dollars in trading volume. For the Ethereum ETF, there was an inflow of about US$108 million. This is about 23 percent of the volume the Bitcoin Spot ETFs reached on their first day. Once again, the crown went to BlackRock. The world's largest asset manager "bought" Ethereum worth US$266 million.

Review of Bitcoin: outflow at Grayscale.

The company Grayscale has sold about $484 million worth of Ethereum from their $9 billion fund, which has been around since 2017 and has now been converted into a Spot ETF.

"A very solid first day," tweeted James Seyffart, Bloomberg's crypto expert.

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Ethereum's share price has hardly changed and is still around €3.189.

However, as with Bitcoin ETFs, the new ETH index funds could have a big effect on the Ether price in the medium to long term. You can read more about this in this article: The start of ETF trading: The perfect time or still waiting?

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