Bitcoin ETFs see $463 million outflow after three weeks of inflows

Spot Bitcoin ETFs saw a net outflow of $463 million last week, according to data for the period from 7 to 11 September. That brings an end to a run of three consecutive weeks of net inflows. Strikingly, Ethereum ETFs showed the opposite: they recorded net inflows for the fourth week in a row.

In brief:

• Bitcoin ETFs posted $463 million in net outflows over the past trading week
• Ethereum ETFs booked $197 million in net inflows and extend their positive streak to four weeks
• Solana and XRP ETFs also saw small positive inflows

Three-week inflow streak halted for Bitcoin ETFs

After three weeks in which investors on balance put money into Bitcoin ETFs, sentiment reversed last week. Over the period from 7 to 11 September, a total of $463 million flowed net out of spot Bitcoin ETFs, as Wu Blockchain reports. The total assets under management of these funds currently stand at $97.58 billion.

Bitcoin itself is trading around $77.615, a slight increase of 0.5% over the past 24 hours. The price has been moving around the $77.000 level for some time, while Bitcoin has simultaneously gone almost a year without a new all-time high.

Ethereum and other altcoins are in demand

While Bitcoin ETFs saw outflows, Ethereum is attracting ever more capital through ETF structures. Spot Ethereum ETFs booked $197 million in net inflows last week, bringing the positive streak to four consecutive weeks. It was already visible earlier that Bitcoin ETFs were in the red for several days while Ethereum ETFs remained popular.

There were also modest positive flows for XRP and Solana. Spot XRP ETFs recorded $18.97 million in net inflows, while spot Solana ETFs attracted $10.30 million. The amounts are small compared with Bitcoin and Ethereum, but they do show that demand exists beyond the two largest funds as well.

Whether the outflow from Bitcoin ETFs is a temporary dip or the start of a longer negative streak depends in part on broader market conditions. The expected decisions by the Fed play a role in this, as does the behaviour of long-term holders who are for now waiting to see how things develop.