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Financial analyst Eric Balchunas discusses the launch of the $ETH ETF, comparing it to Bitcoin ETFs and exploring the narratives of Ethereum as a tech platform. The impact of BlackRock's involvement in Ethereum ETFs is also discussed, along with reflections on the market impact of the $ETH ETF launch.
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Quick takeaways
- The ETH ETF launch was successful, outperforming expectations and showcasing stability in trading.
- Inflows into ETH ETFs exceeded outflows, signaling positive retail engagement and potential for robust future inflows.
Deep dives
ETH ETF Trading Launch
The ETH ETFs from various companies like BlackRock, Fidelity, and Bitwise commenced trading. The first day wrapped up with solid performance, exceeding expectations with about 23% of the spot Bitcoin ETFs' performance. Despite concerns, the ETH ETFs showcased stability and successful trading without major issues, closing with a total volume just under 1.1 billion.
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