US spot ether ETFs make market debut in another win for crypto industry
The most actively traded ETFs were Grayscale's Ethereum Trust, with more than $450 million in turnover, the iShares Ethereum Trust, with about $245 million in trading, and Fidelity Advantage Ether ETF, with $137 million, Bitwise said.
Products from Franklin Templeton, VanEck, Bitwise, 21Shares and Invesco also began trading on Tuesday.
Following the launch of nine U.S. spot bitcoin ETFs in January, the ether products mark another win for the cryptocurrency industry's campaign to push digital assets into the mainstream, although the products are unlikely to garner the same volume of inflows, analysts said.
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View Details» Tuesday's trading volumes fell short of the $4.6 billion traded in the bitcoin ETFs on their January debut. Data on ether ETF inflows will be available as of Wednesday morning.
«Although ether ETFs may not attract as much inflow as bitcoin ETFs, they represent an important step in the development of the cryptocurrency market,» said Grzegorz Drozdz, market analyst at investment firm Conotoxia Ltd.
The price of ether, the world's
