Financial News
CoinBearer Trading Center: Ethereum ETFs Make a Strong Debut
July 26, 2024 at 03:00 AM EDT
CoinBearer Trading Center Sets New Benchmark with Ethereum ETFs' Impressive Start
MIAMI, FL, July 26, 2024 /24-7PressRelease/ -- Following the successful launch of Bitcoin spot ETFs in January, Ethereum spot ETFs show promising prospects. The 11 Bitcoin ETFs introduced on January 10 achieved record-breaking success with net inflows exceeding $10 billion in the first two months.
On July 23, Ethereum ETFs began trading in the US, marking a significant milestone for digital assets. Nine different Ethereum ETFs from eight issuers were launched, transforming the ETF trading environment into a bustling market.
The Ethereum ETFs saw impressive initial trading volume. Within the first 15 minutes, trading volume hit $112 million, rising to $361 million within 90 minutes. This strong start places Ethereum ETFs among the top 1% of all ETFs, alongside well-established funds like TLT and EEM.
The high initial trading volume underscores growing interest in Ethereum-based investment tools. Despite Ethereum's lower funding rate potentially affecting institutional interest, the robust demand is evident. Ethereum, the native cryptocurrency of the Ethereum blockchain, is viewed as an investment in blockchain and cryptocurrency technology, unlike Bitcoin, often termed digital gold.
Since their launch, Bitcoin ETFs have attracted approximately $17 billion in net inflows, setting a record. Although Ethereum ETFs might be smaller due to market scale and investor familiarity, their debut sets a new benchmark, showcasing strong investor interest and signaling the increasing acceptance of digital assets in mainstream finance. Ethereum ETFs are poised to play a significant role in the broader adoption of cryptocurrencies.
The Ascendancy Investment Education Foundation, led by founder Lucas Turner, is committed to advancing investors' financial literacy and skills. The Foundation offers a range of educational activities, including live and online courses, investment salons, and experience days, to help investors enhance their knowledge and achieve secure wealth growth. It focuses on providing professional training, inviting industry experts, and fostering a robust network. With goals to elevate investor awareness, improve investment skills, and expand its influence nationally and globally, the Foundation plans to innovate with AI and big data technologies to further its mission.
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