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International Business Times
International Business Times
Business
Marvie Basilan

$ETH Price Unaffected By Ethereum ETFs' $1B+ Trading Volume On Day 1

Ethereum ETF James Seyffart BlackRock Grayscale Eric Balchunas Crypto United States
Ethereum ETFs went live Tuesday and saw a staggering $1 billion in trading volume. (Credit: Ethereum Foundation Blog/Screenshot)

KEY POINTS

  • Trading volume hit nearly $1.1 billion and inflows were at $106.8 million
  • BlackRock's $ETHA accounted for most of the inflow haul, with $266.5 million
  • Grayscale's $ETHE suffered outflows of nearly $485 million

Ether ($ETH), the native cryptocurrency of the Ethereum blockchain, didn't budge even as Ethereum exchange-traded funds (ETFs) exceeded $1 billion in trading volume on the first day of trading, raising questions about why Ether prices seem unaffected by the hype.

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