Bitcoin ETF sold off $462.7 million, while Ethereum Fund had a net inflow of $196.9 million

Spot Bitcoin ETF lost US$462.7 million in the trading week from September 8 to 11, and Ethereum Fund grew against the trend.

During the trading week from September 8 to 11, the U.S. spot Bitcoin ETF lost a total of US$462.7 million. At the same time, the Ethereum Fund recorded a net inflow of $196.9 million, while the Solana Fund received a smaller inflow of $9.7 million.

Bitcoin ETF experienced continuous net outflows

Bitcoin ETF experienced net outflows on all four trading days, with a single-day outflow on Thursday reaching US$282.7 million, becoming the main drag. According to Farside Investors, the four types of ETF portfolios it tracks combined net losses of $282.6 million.

Farside data shows daily outflows from Bitcoin funds from Tuesday to Friday. Since Monday (September 7) is the Labor Day holiday in the United States and the market is closed, this reporting period consists of only four trading days. In contrast, the Ethereum and Solana funds were in positive yield ranges during the cycle, while the Hyperliquid fund recorded net outflows.

Bitcoin ETF loss peak on Thursday

According to Farside, Bitcoin fund net outflows widened to $120.2 million on Tuesday, peaked at $282.7 million on Thursday, and narrowed to $13.2 million on Friday. Outflows over the four trading days offset some of the $986.7 million gains earned by the same funds in the previous trading week.

In terms of individual stocks, ARK21 Shares 'ARBK fund recorded its largest net outflow in a single week, reaching US$234.2 million. Among them, the loss of $164.3 million in a single day on Thursday was the main reason for this result. Grayscale's GBTC followed closely, with a net outflow of $129.1 million in a single week, including a loss of $65.5 million on Tuesday and $36.4 million on Thursday.

BlackRock's IBIT fund lost $52.5 million this week. The fund had an inflow of $10.7 million on Tuesday, but then flowed out of $19.5 million on Wednesday,$24.5 million on Thursday and $19.2 million on Friday, respectively. Fidelity's FBTC fund fell $50.7 million this week, while VanEck's HODL fund lost $13.1 million.

Despite the overall downward trend, there are still a few products that attract capital. Morgan Stanley's MSBT fund has accumulated a cumulative inflow of US$19.7 million in four trading days, and funds have entered the market every day. Bitwise's BITB fund ultimately reported gains of $1.9 million, mainly due to an inflow of $14.5 million on Tuesday, although it was offset by an outflow of $12.6 million on Thursday.

It should be noted that these weekly flow data only describe the subscriptions and redemptions of funds listed in the United States and do not reflect whether specific holders directly buy and sell Bitcoin or Ethereum. For example, previous reports showed that Jane Street held more than $1 billion in spot Bitcoin ETF shares at the end of June, including approximately $828 million in IBIT shares. However, regulatory filings disclose quarter-end positions rather than changes in positions during the September trading week, so it is impossible to determine who drove ETF flows this week.

Ethereum ETF turns around after inflow on Friday

When the Ethereum Fund entered Friday, it still showed a cumulative net outflow of US$19.5 million this week. Farside records showed it lost $24.3 million on Tuesday, made a profit of $34.7 million on Wednesday, and lost another $29.9 million on Thursday. However, a huge inflow of $216.4 million on Friday turned the performance into positive throughout the week, culminating in weekly earnings of $196.9 million.

BlackRock's ETHA funds contributed most of the inflow on Friday, increasing $148.8 million in a single day. Although gains on Wednesday and Friday were partially offset by an outflow of $18.6 million on Thursday, the fund still recorded a net inflow of $139.9 million throughout the week. In addition, BlackRock's pledged Ethereum fund ETHB increased $55.1 million this week, with $22.9 million in inflows on Wednesday and $18.3 million on Friday.

Bitwise's ETHV fund made a profit of US$29.1 million on Friday alone;VanEck's ETHV fund raised US$3.7 million on the same day. Fidelity's FETH fund reversed, with an outflow of $25.2 million on Thursday, resulting in a loss of $3.9 million throughout the week despite inflows on Tuesday and Friday. Grayscale's ETHE fund lost $17.3 million in four trading days; its smaller ETH fund ultimately lost $11.8 million after Tuesday's $24.6 million outflow far exceeded subsequent gains.

Based on Farside's daily totals, the Ethereum ETF brought in $215.3 million in inflows in the previous week. As a result, despite the large inflows on Friday, the earnings of the latest four cycles were slightly smaller than the previous week.

Solana ETF increased slightly

Solana funds only reported positive returns on Wednesday, when Farside recorded a net inflow of $11.2 million that day. There were small losses of $700,000,$500,000 and $300,000 on Tuesday, Thursday and Friday, respectively, resulting in the weekly total finally being fixed at a positive gain of $9.7 million.

Bitwise's BSOL fund contributed US$9.5 million in weekly inflows. The fund received $11.2 million on Wednesday, then lost $1.4 million on Thursday and $300,000 on Friday. VanEck's FSOL fund increased $900,000 on Thursday and TSOL fund increased $500,000 on Tuesday. Grayscale's GSOL fund flowed out of $1.2 million on Tuesday and has not seen another net move on the Farside sheet since then.

Hyperliquid Fund suffers loss in three-day trading

Hyperliquid ETF recorded a net outflow of US$26.5 million this week. Farside data showed a loss of $13 million on Tuesday,$5.3 million on Wednesday, and $8.2 million on Friday; there was no net flow record on Thursday.

Bitwise's BHYP fund accounted for the vast majority of weekly losses, totaling US$20.2 million. The fund lost $8.1 million on Tuesday,$5.3 million on Wednesday and $6.8 million on Friday, respectively. 21Shares 'THYP fund lost a total of $6.3 million on Tuesday and Friday, while Farside records showed no net movement in HYPG funds throughout the week.