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iHateAnime
@ihateanime.eth
🧵 Ethereum ETF, Post Mortem thread 🧵 💠 The initial US ETFs that directly invest in Ethereum have seen impressive trading volumes on their debut, with over $0.5 billion transacted within the first few hours of market opening. Still, this figure is a significant drop from the $4.6 billion traded during the launch of spot Bitcoin ETFs in January. Nonetheless, judging by the first day's performance, these funds could potentially rank among the top 50 most popular debut US ETFs ever.
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iHateAnime
@ihateanime.eth
💎 Given the high correlation between BTC and ETH, some investors may simply stay in BTC because it was the first. They will not be sprayed. Those who wanted to close their cryptocurrency “wants” or simply gain access to cryptocurrencies realized this through Bitcoin ETFs. 🎊 Most likely, we can expect more excitement only when a project appears that does not correlate with bitcoin. Or it will develop a completely new ecosystem?
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iHateAnime
@ihateanime.eth
🌟 So, in total, Ethereum ETFs received $107 million in net inflows on the first day. BlackRock's iShares Ethereum Trust showed the highest level of subscriptions with $267 million, followed by Bitwise Ethereum with $204 million and Fidelity Ethereum Fund with $71 million. On Tuesday, more than $1 billion worth of shares were traded across nine ETFs.
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iHateAnime
@ihateanime.eth
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