Bitcoin ETFs Shed $462.7M as Ether ETFs Gain $196.9M in Weekly Reversal

U.S. spot Bitcoin ETFs recorded $462.7 million in net outflows last week, ending a three-week stretch of inflows and marking a clear shift in investor positioning. At the same time, Ether ETFs attracted $196.9 million, highlighting stronger relative demand for the second-largest cryptocurrency as markets prepared for a potentially hawkish Federal Reserve decision.

According to Farside Investors, Bitcoin funds registered outflows across all four trading sessions from September 8 through September 11. The reversal followed the strongest three-week Bitcoin ETF inflow run of 2026 and came as risk assets faced pressure from higher oil prices, rising yields and growing expectations for tighter U.S. monetary policy.

Bitcoin Funds Reverse Three-Week Gain

The selling accelerated during Thursday’s session, when U.S. spot Bitcoin ETFs recorded $282.7 million in net withdrawals, their largest single-day outflow since July. Friday’s $13.2 million withdrawal was smaller but extended the losing streak to four consecutive sessions. Farside’s daily data show outflows of $46.6 million on Tuesday and $120.2 million on Wednesday before Thursday’s sharp decline.

The largest fund withdrawals were concentrated among several major issuers:

• ARK 21Shares Bitcoin ETF: $234.2 million outflow
• Grayscale Bitcoin Trust ETF: $129.1 million outflow
• BlackRock iShares Bitcoin Trust ETF: $52.5 million outflow
• Fidelity Wise Origin Bitcoin Fund: $50.7 million outflow

Despite the weekly reversal, Bitcoin ETFs remained in positive territory for September, with approximately $307.3 million in cumulative net inflows through Friday.

Ether ETFs Attract Fresh Capital

Ether funds followed a different path. U.S. spot Ether ETFs produced $196.9 million in net inflows over the same four-session period, according to Farside’s data. The flows were uneven early in the week, with $24.3 million of outflows Tuesday, $34.7 million of inflows Wednesday and $29.9 million of outflows Thursday.

The decisive move came Friday, when Ether ETFs attracted $216.4 million, more than offsetting the earlier withdrawals. BlackRock’s iShares Ethereum Trust ETF accounted for $148.8 million of that inflow, while the 21Shares Core Ethereum ETF added $29.1 million.

The divergence suggests investors were not simply abandoning crypto exposure. Instead, some capital may have been rotating between major digital assets as Bitcoin faced heavier selling pressure.

Fed Decision Could Shape Next Flows

The ETF reversal comes as the Federal Reserve approaches its September 15–16 policy meeting. Reuters reported Monday that markets were assigning roughly an 85% probability to a 25-basis-point rate increase. Persistent inflation and elevated Treasury yields have increased pressure on risk assets, including cryptocurrencies.

Bitcoin recently rebounded from levels near $60,000 in August and moved back above $70,000, but it remains below its October 2025 record above $126,000. Reuters also reported that Bitcoin options positioning has turned more bullish, with traders increasingly looking toward $80,000 and higher by December.

Conclusion

The latest ETF data show a meaningful divergence between Bitcoin and Ether demand. Bitcoin funds lost $462.7 million after three weeks of inflows, while Ether products attracted $196.9 million, driven by a powerful Friday inflow. The shift does not necessarily signal a broad exit from crypto, but it does show that institutional positioning is becoming more selective. With the Federal Reserve decision approaching, the next round of ETF flows could provide an important signal about whether investors are rebuilding Bitcoin exposure or continuing to favor Ether.