Crypto ETFs appeared to hit $10B in hours, but filing data exposes where that money really came from

US spot Ethereum ETFs appeared to begin trading with $10.36 billion already inside them, an opening balance large enough to resemble an institutional buying wave before the first full session ended. However, almost all of that amount came from ETH that Grayscale's older trusts already held, so the launch moved an existing pool into exchange-traded [ ]