Ethereum ETFs debuted in the US with a staggering $1.11 billion in trading volume, suggesting robust interest from market participants. This enthusiasm was led by BlackRock's influx of $266.5 million. Within the first 90 minutes alone, trading volumes hit $361 million, setting a promising tone. But what's really intriguing is how this surge in ETFs is impacting the Ethereum derivatives market. CoinGlass data highlighted a particularly sharp spike on July 24... which raises the critical question: could this burgeoning interest pose a hidden risk for Ethereum?
Ethereum open interest grows as market hype grows around spot ETFs Ethereum open interest grows as market hype grows around spot ETFs
The ETFs recorded an impressive volume of $1.11 billion on the first trading day, led by BlackRock's $266.5 million inflows.
2 min read
Updated: Jul. 25, 2024 at 1:06 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
BlackRock
BlackRock, synonymous with global asset management, is an American multinational investment management corporation based in New York City.