{"id":15469,"date":"2024-07-23T19:26:49","date_gmt":"2024-07-23T16:26:49","guid":{"rendered":"https:\/\/forklog.com\/en\/ethereum-spot-etf-trading-volume-surpasses-500-million\/"},"modified":"2024-07-23T19:26:49","modified_gmt":"2024-07-23T16:26:49","slug":"ethereum-spot-etf-trading-volume-surpasses-500-million","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ethereum-spot-etf-trading-volume-surpasses-500-million\/","title":{"rendered":"Ethereum Spot ETF Trading Volume Surpasses $500 Million"},"content":{"rendered":"<p>The total trading volume of spot ETFs based on the second-largest cryptocurrency by market capitalization exceeded $500 million just hours after the debut of the new instrument on regulated American exchanges.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"225\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/123-29-1024x225.png\" alt=\"123-29\" class=\"wp-image-237617\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/123-29-1024x225.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/123-29-300x66.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/123-29-768x169.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/123-29-1536x338.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/123-29.png 1688w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/sosovalue.xyz\/assets\/etf\/us-eth-spot\">SoSoValue<\/a>.<\/figcaption><\/figure>\n<p>The primary contributor to this metric was Grayscale&#8217;s ETHE (~$222 million). Other leaders included BlackRock&#8217;s ETHA (~$117 million) and Fidelity&#8217;s FETH ($70.6 million).<\/p>\n<p>In a conversation with <a href=\"https:\/\/www.theblock.co\/post\/306859\/ethereum-grayscale-trust-outflows-could-weigh-on-ether-price-after-todays-etf-launch-analyst-says?utm_source=twitter&#038;utm_medium=social\">The Block<\/a>, Hashkey Capital Liquid Fund partner Jupiter Zheng suggested short-term market pressure due to Grayscale&#8217;s high fees.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>\u201cA correction is likely some time after the launch of spot ETH-ETFs. That is, outflows from the Grayscale Ether Trust could soon dampen sentiment, as seen with bitcoin ETFs. Investors might redirect their funds to options with lower fees,\u201d the expert shared.<\/cite><\/p><\/blockquote>\n<p>The screenshot above indicates that the management fee for Grayscale&#8217;s ETHE fund is 2.5%, significantly higher than competitors&#8217; rates (0.15-0.25%).<\/p>\n<p>According to Zheng, another barrier to demand for new instruments is the exclusion of staking rewards.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>\u201cWhile ETFs provide institutions with a regulated and convenient way to access Ethereum, retail investors and those looking to maximize returns might prefer holding ETH directly to receive staking rewards,\u201d he added.<\/cite><\/p><\/blockquote>\n<p>However, Zheng remains optimistic about the long-term prospects of Ethereum ETFs.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>\u201cIn our view, by the end of this year, Ethereum could reach a price range of $6,000-10,000,\u201d the expert concluded.<\/cite><\/p><\/blockquote>\n<p>Trading of spot ETH-ETFs began on July 23. Following the debut of these new financial instruments, there was a slight correction in the price of the second-largest cryptocurrency by market capitalization.<\/p>\n<p>Analysts at QCP Capital considered the market&#8217;s reaction to the launch of Ethereum-based exchange-traded funds as \u201cmuted.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The total trading volume of spot ETFs based on the second-largest cryptocurrency by market capitalization exceeded $500 million just hours after the debut of the new instrument on regulated American exchanges. Data: SoSoValue. The primary contributor to this metric was Grayscale&#8217;s ETHE (~$222 million). Other leaders included BlackRock&#8217;s ETHA (~$117 million) and Fidelity&#8217;s FETH ($70.6 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15468,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[569,46],"class_list":["post-15469","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-etf","tag-ethereum"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/15469","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=15469"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/15469\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/15468"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=15469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=15469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=15469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}