![Trading Volume of Spot Ethereum ETFs Falls Below $900M Trading Volume of Spot Ethereum ETFs Falls Below $900M](https://www.allcryptocurrencydaily.com/wp-content/uploads/2024/07/f-1024x576.jpg)
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Only the Grayscale Ethereum Trust (ETHE) has recorded net outflows, with $326.86 million being withdrawn, according to SosoValue.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.