Ether ETFs Trade Over $1 Billion in Strong Crypto-Fund Debut.

The first US exchange-traded funds (ETFs) that directly invest in Ether, the cryptocurrency of the Ethereum blockchain, had a strong debut with over $1 billion in shares traded. While this is lower than the trading volume of spot-Bitcoin ETFs launched in January, it is still considered a robust start. BlackRock's iShares Ethereum Trust ETF and Grayscale's Ethereum Trust were among the top performers, with high trading values. Analysts have varying forecasts for the amount of cash that Ether funds could attract, with estimates ranging from $3.2 billion to $6.4 billion. The adoption of Ether ETFs may be quicker due to investors' previous experience with Bitcoin funds. However, Bitcoin's first-mover advantage and existing allocations to Bitcoin ETFs may limit the potential for Ether fund flows. The price of Ether remained relatively stable during this period. [Extracted from the article]

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