Bitcoin ETFs in the red for four days in a row, Ethereum ETFs prove popular

US Bitcoin ETFs have recorded a net outflow for the fourth day in a row. On 11 September the total net loss amounted to $13.29 million, while Bitcoin trades around $77.300. Strikingly, the Ethereum ETF market shows the opposite picture: it attracted no less than $216 million in new capital on the same day.

In brief:

• Bitcoin ETFs register an outflow for the fourth consecutive day, this time $13.29 million on 11 September.
• Ethereum ETFs in fact see a substantial inflow of $216 million, with BlackRock’s ETHA as the biggest driver at $149 million.
• Morgan Stanley’s MSBT is the only large Bitcoin ETF to show a positive inflow, of $3.76 million.

Outflows continue for Bitcoin ETFs

The outflow from Bitcoin ETFs has now lasted four trading days. Figures from SoSoValue show that the total net outflow on 11 September came to $13.29 million. The total assets under management of all US spot Bitcoin ETFs together stand at $97.58 billion.

Not all funds are in the red. Morgan Stanley’s MSBT was the biggest positive exception, posting a net inflow of $3.76 million that day. The other major names shed capital on balance.

The continued outflow reflects the broader reticence among Bitcoin investors. The price is currently fluctuating around $77.255, an almost flat trajectory on a daily basis.

Ethereum ETFs attract $216 million

While investors shun Bitcoin ETFs, money is in fact flowing strongly into the Ethereum ETF market. On 11 September the total net inflow amounted to $216 million. BlackRock’s ETHA accounts for the largest share of that: $149 million.

This contrast is striking. The upcoming Ethereum upgrade may play a role in the renewed investor confidence in Ethereum-related products, though that is a possible explanation and not an established link.