According to Eric Balchunas, the 2x GameStop ETF $GMEU experienced a successful launch with over $4 million in trading volume on its first day. This impressive debut exceeds the initial volumes of $NVDL and $TSLL, both of which have grown into multi-billion dollar ETFs. Traders are advised to watch $GMEU for potential growth, considering its strong start.

According to Eric Balchunas, the trading volume for SPY has significantly decreased to $26 billion with only one hour left in the trading session, indicating a cooling off in market activity. This volume is around the average, suggesting a stabilization in trading patterns. For bullish or optimistic investors, this might be a positive indicator as it could imply a consolidation phase before potential upward movements. However, Balchunas notes the uncertainty of whether this trend will persist.