The Ethereum ETF saw first-day inflows of $107 million and trading volume topped $1 billion

The total cumulative net inflows of the Ethereum ETF on the first day reached $106.78 million, with most ETFs showing growth on the first day of trading.

The Ethereum ETF traded more than $1 billion on its first day, with net inflows reaching $106.78 million. By comparison, the Bitcoin ETF traded $4.5 billion on its first day, with net inflows of $600 million.

According to Bloomberg data, investors traded more than $1 billion of shares in the Ethereum exchange-traded fund (ETF) on its first day of trading. Of that $1 billion, $106.7 million was a net inflow, according to SoSoValue's tracking data. Most of the outflows came from Grayscale's Ethereum Trust (ETHE), which saw outflows of $484 million.

The Bitcoin ETF, for example, saw $4.5 billion in trading volume on its first day, but only about $600 million in net inflows. BlackRock's iShares Ethereum Trust ETF (ETHA) had the highest inflows at $266.5 million, followed by Bitwise's Ethereum ETF (ETHW) with inflows of $204 million.

Overall trading volume reached $1.077 billion, which is only about 20 percent of the first-day trading volume of the Bitcoin ETF in January. Many market observers had speculated that the Ethereum ETF's trading volume and inflows might disappoint due to the lack of a pledge mechanism. According to data from CoinDesk Indices, Ethereum is currently trading below $3,500.