Gairika Mitra
Ethereum exchange traded funds began trading in the U.S. on Tuesday, marking a significant milestone in the crypto landscape. It started with a remarkable $1.07 billion in shares changing hands in the products, showcasing an active investor interest.
Grayscale’s Ethereum Trust, iShares Ethereum Trust (ETHA.0), and Fidelity Advantage Ether ETF (FETH.Z) were the most actively traded ones. Grayscale led with a turnover of $450 million, followed by iShares at $245 million, and Fidelity at $137 million.
Franklin Templeton, VanEck, Bitwise, 21Shares, and Invesco also were approved to launch ETFs on Monday. The launch of the first Ether ETF has been quite successful, with the financial product allowing investors to access Ethereum, the native cryptocurrency on the Ethereum blockchain, without having any holdings. The Ether ETF operates in a regulated framework, thus extending safe cryptocurrency’s investment options for investors in a largely unregulated landscape.
The Ether ETF launch saw a net inflow of $106.7 million out of the $1 billion that was traded on the first day as per Sosovalue, an AI-driven crypto investment platform.
Alec Beckman, co-founder and president of Advantage Blockchain said in a LinkedIn post published Monday that Ethereum price is likely to increase 40-60% in the next six months, based on the Bitcoin ETF and prior cycle trends.
He said: “Our price prediction for 2025 is between $8,000-12,000, where the price today sits around $3,500.”
Ethereum is already up 84% since July 23 of last year and is still 27% below its all-time high at $4,815 in 2021, he said, adding. “Today, more infrastructure and users are on the Ethereum network than at any point in history.”
Michaël van de Poppe, (@CryptoMichNL), a widely followed analyst, said he was “bullish” about them.
The ETFs are a major step forward for Ethereum. Coming on the heels of Bitcoin ETFs, they offer investors another option to get into cryptocurrencies and profit from the evolving technology’s increasing adoption in a safer and regulated environment.
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Gairika holds positions in BTC. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
