Bitcoin ETFs See $462.7M Outflow; Ethereum ETFs Gain $196.9M

Weekly ETF flows: Bitcoin outflows, Ethereum inflows, modest Solana gains

U.S. spot Bitcoin exchange-traded funds (ETFs) recorded a collective net outflow of $462.7 million during the September 8–11 trading week, according to daily flow tallies from Farside Investors. In contrast, spot Ethereum funds attracted $196.9 million in net inflows over the same four-session period, while Solana products added a smaller $9.7 million. Hyperliquid ETFs saw $26.5 million in net redemptions.

What the weekly totals cover

The Farside dataset covers U.S.-listed spot crypto ETFs and tracks subscriptions and redemptions in fund shares between Tuesday and Friday; U.S. markets were closed Monday, September 7, for Labor Day. These flow figures reflect money moving into and out of ETF shares and do not necessarily indicate direct spot purchases or sales of the underlying cryptocurrencies by retail or institutional holders.

Daily Bitcoin ETF dynamics: losses across every session

Bitcoin funds posted net outflows on each of the four trading days. Tuesday’s outflow was $46.6 million, which widened to $120.2 million on Wednesday and peaked at $282.7 million on Thursday before easing to $13.2 million on Friday. The four-session pullback erased part of the strong inflows from the prior week, when the same group of funds gained $986.7 million.

Top contributors to Bitcoin ETF redemptions

ARK 21Shares’ ARKB led individual fund outflows with $234.2 million in net redemptions for the week; a $164.3 million withdrawal on Thursday drove most of that total. Grayscale’s GBTC followed with $129.1 million of weekly outflows, including $65.5 million on Tuesday and $36.4 million on Thursday. BlackRock’s IBIT lost $52.5 million across the week after inflows Tuesday were outweighed by midweek and late-week redemptions. Fidelity’s FBTC and VanEck’s HODL also saw notable outflows of $50.7 million and $13.1 million, respectively.

Funds that bucked the trend

Not every Bitcoin product suffered withdrawals. Morgan Stanley’s MSBT posted steady daily inflows and ended the week up $19.7 million. Bitwise’s BITB finished with a modest $1.9 million gain after a $14.5 million Tuesday subscription was offset in part by a $12.6 million Thursday redemption.

Ethereum ETFs flip positive after heavy Friday demand

Ethereum-listed ETFs began the week in the red with a combined $19.5 million net outflow through Thursday, after seeing declines and partial recoveries on Tuesday through Thursday. However, a strong Friday saw $216.4 million flow into spot Ether funds, reversing the midweek weakness and delivering a weekly net gain of $196.9 million.

BlackRock and other major Ethereum players

BlackRock’s ETHA accounted for the lion’s share of Friday’s inflows, adding $148.8 million and finishing the week with $139.9 million in net inflows after a prior-day outflow partially offset its gains. BlackRock’s ETHB, the firm’s staked Ether vehicle, added $55.1 million for the week. Bitwise’s ETHW attracted $29.1 million of inflows, all recorded on Friday, while VanEck’s ETHV added $3.7 million that same day.

Mixed results among other Ethereum products

Fidelity’s FETH experienced a $25.2 million outflow on Thursday and ended the week slightly negative at $3.9 million outflows despite some intraday purchases. Grayscale’s ETHE registered $17.3 million in net redemptions over the four sessions. Overall, Ethereum ETFs’ fresh inflows were meaningful but slightly smaller than last week’s aggregate gains, underscoring the volatile, session-driven nature of ETF flows.

Solana and Hyperliquid: smaller flows, but notable fund-level moves

Solana ETFs posted a $9.7 million net inflow for the week, led by Bitwise’s BSOL, which accounted for $9.5 million of the gain. BSOL brought in $11.2 million on Wednesday before small redemptions on Thursday and Friday reduced the net. VanEck’s FSOL and TSOL contributed marginal inflows, while Grayscale’s GSOL had a small outflow early in the week.

Hyperliquid funds saw redemptions

The Hyperliquid family of ETFs lost $26.5 million across three sessions. Bitwise’s BHYP contributed most of the outflows with $20.2 million in redemptions, spread across Tuesday, Wednesday and Friday. 21Shares’ THYP and other Hyperliquid-listed funds also recorded smaller withdrawals.

Context and implications for crypto markets

ETF flows are a closely watched gauge of investor sentiment because they show where capital is moving within regulated markets. Large, rapid outflows from Bitcoin ETFs can put near-term pressure on ETF share prices and occasionally influence traders’ views of spot BTC demand, while large inflows into Ethereum ETFs — particularly into staked-Ether products — signal renewed appetite for Ether exposure in regulated wrappers.

Still, ETF subscription and redemption numbers do not directly reveal who is buying or selling at the crypto spot level. Institutional quarterly filings and custodial disclosures occasionally shed light on large holders; for example, earlier filings showed Jane Street and Morgan Stanley held sizeable positions in some spot ETF shares at quarter-end, but those snapshots do not identify activity in a given trading week.

Outlook

Heading into the next reporting period, market participants will watch whether Bitcoin ETFs stabilize after the sizable Thursday redemptions and whether Ethereum products can sustain fresh inflows. Flows into smaller altcoin ETFs such as Solana and the behavior of thematic families like Hyperliquid will also be monitored for signs of rotation across crypto exposures. As always, ETF flow data should be interpreted alongside spot price movement, on-chain metrics, and broader macro conditions to form a complete market view.