Trading Volume of Spot Ethereum ETFs Falls Below $900M

The second day of trading for the Ethereum ETFs saw strong volume, but demand has since cooled off after a strong start.

According to data from Yahoo Finance, the cumulative trading volume among the funds reached $850 million on Thursday. This follows trading volumes of over $1 billion on Tuesday and over $950 million on Wednesday.

However, there has been a shift in demand, with Wednesday seeing $133.16 million in net outflows, a reversal from Tuesday’s $106.78 million in net inflows.

Only the Grayscale Ethereum Trust (ETHE) has recorded net outflows, with $326.86 million being withdrawn, according to SosoValue.

The price of Ether also dropped by over 7% overnight before Thursday’s trading session.