Ethereum spot exchange-traded funds entered the American market on Tuesday 23rd. Data from Bloomberg indicates that they started on the right foot despite the Grayscale Ethereum Trust witnessing $483 million in outflows. In a blog post, Bloomberg ETF analyst James Seyffart reported on Wednesday that Ethereum spot ETFs processed net inflows worth $107 million within 24 hours of their launch.
Seyffart said Ethereum ETFs issued by Bitwise Asset Management and BlackRock led the park with inflows of $267 million and $202 million, respectively. The total 24-hour trading volume for these ETFs topped $1.2 billion.
The United States and Exchange Commission (SEC) pre-approved Ethereum ETF filings in May, allowing their issuers to list them on stock exchanges. The SEC’s move surprised many at the time, considering that several ETF experts ruled out the approval of the Ethereum spot ETFs.
“Ethereum ETFs Will Record $15 Billion in AUM Next Year,” Expert Predicts
Meanwhile, Seyffart says these ETFs will process massive inflows over the next 12 months. He believes that the Ethereum ETFs will have a combined $10 billion in assets under management (AUM) by July 2025. On the other hand, Sygum Bank’s head of investment research, Katalin Tischhauser, anticipates that the AUM for these ETFs may hit $15 billion by December next year.
However, she says the demand for the Ethereum ETFs will grow in the first six months of 2025 and expects moderate inflows for the remainder of this year due to the current US political environment and regulatory uncertainty.
Since President Joe Biden announced his decision to drop his re-election bid early this week, there has been a renewed optimism within the crypto walls that the next US President could prioritize formulating a comprehensive regulatory framework for crypto.
Ethereum Fails to Rally After ETF Launch
It is worth pointing out that the launch of Ethereum spot ETFs did not cause ETH to rally as many expected. By comparison, Bitcoins spot ETFs fueled a massive price surge when the SEC approved them on January 10th. As of this writing, Ethereum is trading at $3,461, down 1.67% in the past 24 hours.
SureTradeGroup.com is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Some of the content on this site is paid content that is not written or posted by our writers or editors and the opinions expressed do not reflect the opinions of this website. Any disagreement you may have with brands or companies mentioned in articles will need to be taken care of directly with those specific brands and companies. The responsibility of anyone who may click links in our articles and ultimately sign up for that product or service is their own. Forex, Stocks, Cryptocurrencies, NFTs and Dogital Tokens are all a high-risk asset, investing in them can lead to losses. Readers should do their own research before taking any action.