As a seasoned researcher with extensive experience in the financial industry and a particular focus on cryptocurrencies, I’m thrilled to witness the long-awaited launch of not one but nine spot Ethereum Exchange-Traded Funds (ETFs) in the United States today. The first 90 minutes were nothing short of remarkable, with trading volumes exceeding $360 million – a significant milestone for this emerging asset class.
Nine long-awaited spot Ethereum exchange-traded funds (ETFs) made their debut in the US markets today, allowing investors to trade these financial instruments.
During the initial 90-minute period, the trading volume was significant and totaled over $360 million, based on information provided by Bloomberg’s ETF expert, Eric Balchunas.
After 90 minutes, the total investment amount stands at $361 million. This figure would position these funds approximately as the 15th most traded ETFs in terms of volume, similar to that of $TLT and $EEM. This equates to the Top 1% in the ETF market. However, it’s important to note that the launch of these funds has seen significantly more investment than typical ETF launches, which rarely exceed $1 million on their first day.
— Eric Balchunas (@EricBalchunas) July 23, 2024
The SEC’s approval of significant events in the cryptocurrency sector during the year 2024 underscores its increasing acceptance and recognition.
In the midst of January, the regulatory body granted approval for 11 Bitcoin ETFs. More recently, they made news by allowing the creation of exchange-traded funds that mirror the performance of Ethereum (ETH), the second-largest cryptocurrency.
Nine of the products, which presented certain challenges and required adjustments, began trading on US stock markets today following a notable postponement.
Based on my extensive experience in the financial industry and particular expertise in cryptocurrency trading, I want to share some intriguing insights from a recent development in this dynamic market.
I’ve observed ETH‘s price reaching a daily high of $3,550 when the financial vehicles became active. However, it dipped by over $100 almost instantly thereafter. Currently, Ethereum is trading approximately $40 beneath that peak at around $3,510.
Read More
- AAVE PREDICTION. AAVE cryptocurrency
- W PREDICTION. W cryptocurrency
- AFIN PREDICTION. AFIN cryptocurrency
- MCADE PREDICTION. MCADE cryptocurrency
- TAO PREDICTION. TAO cryptocurrency
- BNC PREDICTION. BNC cryptocurrency
- USD VND PREDICTION
- USD TRY PREDICTION
- Sim Racing: The Buzz Around Moza’s New Porsche Wheel
- Exploring Palworld: The Community’s Take on Spectacular Builds
2024-07-23 18:38