Spot Ethereum ETFs generate $937M volume in 2nd trading day

Spot Ethereum exchange-traded funds (ETFs) generated around $937 million in total trading volume on the second day of trading, The Block, a New York-based data and research firm specializing in digital currencies, said Wednesday.

The trading volume was just over $1 billion on Tuesday, when spot ETFs of Ethereum started trading on major US stock exchanges including the Nasdaq, the NYSE Arca and the Chicago Board Options Exchange (CBOE).

The Grayscale Ethereum Trust led the trading volume Wednesday with approximately $486 million, or 52% of the total volume, said The Block.

It was followed by BlackRock's iShare Ethereum Trust with $255 million and the Fidelity Ethereum Fund with $110 million, it added.

Spot Ethereum ETFs saw $106.6 million in net inflows on Tuesday, according to Farside Investors, a London-based investment management company that specializes in global equities and cryptocurrency.

Bitcoin ETFs have seen $17.46 billion in net inflows since they were launched in January, Farside Investors' data showed.