This would represent roughly one-fifth of the first-day volumes recorded by Bitcoin ETFs during their blockbuster debut in January.
Notably, Grayscale's ETHE is leading the volume chart with $355 million. Some market participants are concerned about possible selling pressure that could be associated with the product's outflows. Fidelity Ethereum Fund comes in second place with $292 million. BlackRock's ETHA is at $187 million.
Even though the launch of Ethereum ETFs seems to be a sell-the-news event, the analysts are now waiting for first-day inflows that will provide them with definitive clues about the level of demand for these products. Coinbase researchers believe that stronger-than-expected inflows could be a , Seyffart and fellow analyst Eric Balchunas predicted that the much-hyped Ethereum ETFs would be able to record roughly $6 billion worth of inflows during the first year.
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