The Block Crypto News9 minutes ago

Published on July 23, 2024 13:00 GMT+00:00edited on July 23, 2024 13:04 GMT+00:00

The incredible success of the Bitcoin exchange-traded funds earlier this year has put the Ethereum ETFs — launching today — in an interesting position.

The Bitcoin ETFs were widely seen as the most successful ETF launch of all time. Both in terms of their combined volumes and flows on the first day, as well as their continued high metrics over the following months. Now while the Ethereum ETFs are likely to capture just a fraction of the flows that their counterparts saw, they could still be one of the most notable ETF launches ever.

“A normal ETF trades — if it’s lucky — a million dollars on the first day. That’s a successful launch for a normal ETF,” said Bloomberg Senior ETF Analyst Eric Balchunas. “These will blow that away.”

Balchunas argued that the Bitcoin ETF launches were …