American Bitcoin ETFs recorded a fourth consecutive day of net outflows on Friday, September 11, with $13.29M withdrawn.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
American Bitcoin ETFs recorded a fourth consecutive day of net outflows on Friday, September 11, with $13.29M withdrawn.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.
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.
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 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.
