Ethereum's (ETH) price is down 1.8% on Wednesday despite an impressive ETH ETFs' first-day launch that saw them attract $10.2 billion in assets and net inflows of $107 million.
Ethereum ETFs are on track for a successful second trading day after capturing $107 million in net inflows on launch day. Investors shifted attention toward ETH as its impressive first-day launch ended BTC ETFs' 12 days of consecutive net inflows. Ethereum price structure and options data indicate a potential brief decline before a bullish reversal. Ethereum 's price is down 1.8% on Wednesday despite an impressive ETH ETFs' first-day launch that saw them attract $10.
on the other hand, was trading at a discount when BTC ETFs launched, reducing the selling pressure from holders. When compared against Bitcoin, ETH ETFs only managed to attract 16% of BTC ETFs' $655 million first-day net flows. However, Bitwise's Juan Leone noted that ETH ETFs captured 79% of BTC ETF flows when outflows from ETHE/GBTC were excluded.
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