The Chicago Board Options Exchange and the New York Stock Exchange have started trading Ethereum-based ETFs. The total trading volume of new products exceeded $500 million a few hours after the launch. The leaders were Grayscale with $222 million and BlackRock with $117 million. As Jupiter Zheng of Hashkey Capital Liquid Fund noted, Grayscale's high commissions may cause short-term pressure on the market. The approval of ETH-based spot exchange-traded funds had a "restrained" impact on the crypto industry, as market participants expected the implementation of the "buy on rumors, sell on news" option, according to QCP Capital. Bloomberg analyst Eric Balchunas believes that ETH-ETFs will be useful for the industry in any case. He suggested that the new products will be able to raise from $5 billion over the coming months.