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According to insights shared by Eric Balchunas, a senior ETF analyst for Bloomberg, the cumulative trading volume for the ETFs on the first trading day was just below $2 million.
After the Securities and Exchange Commission (SEC) greenlighted many of the ETF proposals from the likes of VanEck, ProShares, Valkyrie and Bitwise, among others, U.S. bourses welcomed multiple launches earlier this week. Per the data shared, the combination of Bitcoin and Ethereum Futures ETFs from Valkyrie had the highest trading volume, which was pegged at about $787,376 as of 11:15 a.m. on Monday. The same low trading volume characterized the offerings from ProShares, whose Ethereum Futures ETF saw just a meager $284,112 traded overall.
While the fact that such a product is available for mainstream investors to gain exposure to the crypto space, Balchunas pointed out the poor volume when compared to the more than $200 million the first-ever Bitcoin Futures ETF recorded within the first 15 minutes after it went live.
According to insights shared by Eric Balchunas, a senior ETF analyst for Bloomberg, the cumulative trading volume for the ETFs on the first trading day was just below $2 million.
After the Securities and Exchange Commission (SEC) greenlighted many of the ETF proposals from the likes of VanEck, ProShares, Valkyrie and Bitwise, among others, U.S. bourses welcomed multiple launches earlier this week. Per the data shared, the combination of Bitcoin and Ethereum Futures ETFs from Valkyrie had the highest trading volume, which was pegged at about $787,376 as of 11:15 a.m. on Monday. The same low trading volume characterized the offerings from ProShares, whose Ethereum Futures ETF saw just a meager $284,112 traded overall.
While the fact that such a product is available for mainstream investors to gain exposure to the crypto space, Balchunas pointed out the poor volume when compared to the more than $200 million the first-ever Bitcoin Futures ETF recorded within the first 15 minutes after it went live.