Ethereum ETFs hit $300 million in trading volume in first hour of being live on the market | Headlines | News | CoinMarketCap
07/23/2024 22:26
Sopt Ethereum ETFs officially hit the U.S. stock market Tuesday morning and have already generated significant trading volume. The exchange-traded …
The Block Crypto News15 minutes ago
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Published on July 23, 2024 15:09 GMT+00:00edited on July 23, 2024 15:14 GMT+00:00
Sopt Ethereum ETFs officially hit the U.S. stock market Tuesday morning and have already generated significant trading volume.
The exchange-traded funds accumulated $205 million in combined trading volume in less than an hour, according to Yahoo Finance data compiled by The Block Pro Research. At about 10:45 a.m. EST, or 75 minutes after the open, the funds hit $300 million in trading volume.
Bloomberg Senior ETF Analyst Eric Balchunas provided some context on the early numbers.
"Here's volume after first 15 minutes of trading. Total of $112m traded for the group (which is A TON vs a normal ETF launch but only about half of what bitcoin ETFs' volume pace was on DAY ONE, altho 50% would exceed expectations IMO)," he said in a post on X.
Balchunas …