Ethereum VS Bitcoin Spot ETF! Bloomberg Analyst: Very solid day

This site (120BtC.coM): Bloomberg ETF analyst James Seyffart compared the performance of the Ethereum spot ETF and the Bitcoin spot ETF on the first day, and believed that "Compared with the Bitcoin ETF on the first day, Ethereum The trading volume of the ETF is about 24%, and the flow is 16.5%. It is a very solid day! "

The first day performance of Ethereum spot ETF

The Ethereum spot ETF was officially launched on 7/23, and the total trading volume on the first day reached US$1.112 billion, with an overall net inflow of US$107.8 million.

The total transaction volume of EHTE excluding grayscale reached US$642.9 million, with an overall net inflow of US$591.9 million.

Comparison of ETH and BTC ETFs

Bloomberg ETF analysis James Seyffart also compared the performance of the Ethereum spot ETF and the Bitcoin spot ETF on the first day (the following data is the relative performance of ETH divided by BTC).

• Trading volume: 23.9%

• Trading volume (deducting grayscale, but including grayscale mini): 27.6%

• Net inflow: 16.5%

• Net inflow (deducting grayscale, but including grayscale mini) Including Grayscale Mini): 78.9%

James Seyffart believes: Compared with the Bitcoin ETF on the first day, the Ethereum ETF’s trading volume was approximately 24% and the flow was 16.5%. I thought it was a very solid day!

The difference lies in the outflow of Grayscale

Seyffart also pointed out that the main difference between the two comparisons is the relatively large outflow of ETHE, as GBTC was still at a meaningful discount when it was launched.

According to YCharts data, GBTC slowly recovered from -6.53% on 1/9 before its launch, to -0.11% on 1/22.

But ETHE has risen sharply and approached 0 as early as 5/24, that is, after the approval of Form 19-4b of the Ethereum spot ETF.

The demand for ETH exceeded expectations on the first day

Bitwise senior analyst Juan Leon also said: This is a marathon, not a sprint, but the demand for ETH exceeded expectations on the first day. Prepared for the road ahead.

OKX Global Business Chief Lennix Lai said that the approval and launch of ETHETF shows that the SEC does not define ETH as a security.

The launch of the ETH ETF means more funds flowing into the ETH ecosystem, especially from institutional investors.

CoinMarketCap Research Director Alice Liu also said: Based on the European market where ETH ETF is already trading, we expect institutional demand to increase in the next 3-5 months. Strong first-day demand for the ETH ETF significantly exceeded market expectations and signals a promising long-term outlook.

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