The first day of trading of US Ether ETFs saw a significant inflow of $106.6 million, despite large outflows from Grayscale's recently converted Ethereum Trust.
BlackRock's iShares ETF (ETHA) and Bitwise's Ethereum ETF (ETHW) were the top performers, with net inflows of $266.5 million and $204 million, respectively.
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Fidelity's Ethereum Fund (FETH) ranked third with net inflows of $71.3 million. These inflows outpaced outflows from Grayscale's Ethereum Trust (ETHE), which experienced a same-day decline of $484.9 million, equivalent to 5% of its $9 billion fund.
ETHE was launched back in 2017 and allowed institutional investors to buy Ether with a six-month lock-up period.
The initial day of trading on US exchanges for Ether ETFs generated more than $1.019 billion in total trading volume, according to Yahoo Finance data.