Yesterday, nine Ethereum futures exchange-traded funds (ETFs) were introduced to the market.

These ETFs are managed by six different firms: Valkyrie, VanEck, ProShares, Bitwise, Kelly, and VolShares.

Of these, four ETFs invest in a mix of Bitcoin and Ethereum futures, while the remaining five focus solely on Ethereum futures.

Bloomberg Senior ETF Analyst Eric Balchunas shared trading volume data for these ETFs.

How Did These Ethereum ETFs Perform?

Valkyrie's ETF reported the highest trading volume, at $787,376, representing 46% of the combined trading volume of all nine ETFs.

Valkyrie recently included Ethereum futures in its fund, describing it as the "first-of-its-kind dual cryptocurrency futures" ETF due to its inclusion of Bitcoin futures.

VanEck offers an ETF exclusively dedicated to Ethereum futures and reported the second-highest trading volume at $305,410, contributing 18% of the total combined volume.

VanEck publicly announced the launch of its fund and highlighted its unique structure as a C-Corp.

ProShares also made a notable impact with three separate ETFs, accounting for 31% of the overall trading volume.

Bitwise contributed 4% of the total trading volume with its two funds.

The remaining two funds from Kelly and VolShares had no measurable trading volume.

Low Volume "About Normal" for New ETFs

Balchunas noted that the collective trading volume for all these ETFs remained below $2 million during the initial trading hours, which he considered typical for new ETFs.

However, he pointed out that this volume was notably lower compared to the ProShares Bitcoin Strategy ETF (BITO), which launched in late 2021 and recorded $200 million in volume within the first 15 minutes of trading.