Ethereum ETFs Snap Up $216M While Bitcoin Funds Keep Sliding

American Bitcoin ETFs recorded a fourth consecutive day of net outflows on Friday, September 11, with $13.29M withdrawn. In contrast, ether ETFs attracted $216.41M and mark a fourth positive week. Institutional investors therefore still seem present in the crypto market, but their interest is shifting.

Bitcoin ETFs string together four losing sessions

The $13.29M of outflows recorded on Friday may seem modest. However, the trend is becoming harder to ignore. After ending the week of September 4 with a net inflow of $986.9M, Bitcoin ETFs have just recorded four consecutive sessions of outflows and are digging into an annual deficit close to 1 billion dollars.

According to data compiled by Bitcoin.com News, BlackRock’s IBIT suffered $19.23M of outflows. Morgan Stanley, with MSBT, however attracted $3.76M, while VanEck’s HODL recorded $2.18M of inflows.

Over the week, outflows reach $462.73M. Bitcoin ETFs generated $2.60B in volume on Friday and now total $97.58B in net assets. At the same time, BTC remains stuck around $77,000.

Ether takes over

The contrast is much more marked on the Ethereum side. The six American ether ETFs attracted $216.41M on Friday, according to data from SoSoValue cited by the American press.

BlackRock’s ETHA largely dominates with $148.82M of inflows, ahead of Bitwise’s ETHW at $29.09M, BlackRock’s ETHB at $18.32M, and Fidelity’s FETH at $11.40M.

Volumes reached $2.56B, while net assets rose to $16.31B. Over the week, ether ETFs show about $197M in positive flows and thus string together a fourth week of inflows.

The movement is worth monitoring, especially since funds had still recorded $24M of outflows on September 9. It also comes as the ether reserves held on platforms continue to decline. However, this is not enough to talk about a sustainable rotation towards ETH.

The Fed remains center stage

The report from the Bureau of Labor Statistics published on September 11 did not really change the situation. US inflation increased by 0.4% month-on-month and 3.4% year-on-year. Core inflation slowed to 2.4% over twelve months, its lowest level since March 2021, but its monthly increase of 0.3% was slightly above expectations, according to CNBC.

For bitcoin, the next step will therefore largely depend on the tone adopted by the Fed. Other crypto ETFs remain much quieter: -$8.18M for Hyperliquid, -$278,840 for Solana, and no net flows for XRP ETFs.

A fifth session of outflows for Bitcoin would confirm the current weakness. On the ether side, however, several sessions exceeding $200M will be required to talk about a true trend. Until then, bitcoin traders remain cautious before the Fed’s next decisions.