ETH ETFs 1st Day Trading Update
Background: Ethereum Spot ETFs are like a share of stock you can buy, where a company takes your money and buys Ethereum and holds it for you. However, you don’t have direct ownership of the Ethereum.
The BTC and ETH ETFs made it easier for people to invest in digital assets, vs buying directly and storing it yourself. Instead of owing Ethereum directly, you buy a product that tracks the price of Ethereum, just like you would a stock.
This is appealing to institutions, which are big investors who usually have large amounts of money. It also makes it easier for these intuitions to invest in digital assets.
Stat: 1st trading day; $1.1B in total trading volume, $106.8M of total inflows (money that came in) and $484M outflows from Grayscales Trust.
https://preview.redd.it/ptm415gbtked1.png?width=762&format=png&auto=webp&s=1ee0b0cd35b9fc6bed55ad7674e88a8ebc834e27
submitted by /u/Arrakeen_eth [comments]
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