Bitcoin spot ETF sold off for $463 million, Ethereum ETF attracted $197 million

The U.S. spot Bitcoin ETF suffered a sharp weekly reversal, and the Ether ETF bucked the trend to attract gold.

According to data from Farside Investors, the U.S. spot Bitcoin exchange-traded funds (ETFs) reversed sharply this week after three consecutive weeks of capital inflows, recording a net outflow of US$462.7 million. The shift occurred in all four trading days from Tuesday to Friday, as selling pressure continued, sending negative cash flow to a fourth consecutive day.

Meanwhile, the Ether ETF reversed its trend during the same period, recording a net inflow of nearly US$197 million. Farside Investors reported that despite volatile capital flows earlier this week, U.S. spot Ether products attracted $196.9 million in funding during the four-day window.

Key Points

·The U.S. spot Bitcoin ETF recorded a net outflow of US$462.7 million in four trading days this week, ending three weeks of continuous inflows.

·Outflows from Bitcoin ETF run through all trading days, with Thursday's one-day outflow of US$282.7 million, the largest one-day outflow since July.

·Despite the weekly reversal, as of Friday, the spot Bitcoin ETF remained net positive in September, with cumulative inflows of US$307.3 million.

·The U.S. spot Ether ETF recorded a net inflow of $196.9 million, with $148.8 million contributed on Friday mainly by BlackRock's iShares Ethereum Trust ETF.

Bitcoin ETF changes direction after three weeks of inflow

According to data from Farside Investors, outflows from Bitcoin ETFs occurred on every trading day from Tuesday to Friday. Previously, market data described previous performance as the strongest three-week inflow period in 2026, a trend that ended after a $166.8 million loss in funds in the first two days of a shortened holiday week.

Pressure intensified on Thursday when the U.S. spot Bitcoin ETF recorded a net outflow of $282.7 million-the largest one-day outflow reported since July. Outflows slowed to $13.2 million on Friday, but SoSoValue data showed that still extended the record of negative daily flows to four trading days.

This combination-a day of large outflows followed by sustained (albeit smaller) outflows-helps explain why the weekly totals clearly turned negative. Investors focusing on ETF flows often view these reversals as short-term signals of changes in risk appetite, especially when they break previous momentum rather than just pause inflows.

Which funds drove this week's Bitcoin outflow?

Breakdown data from Farside Investors shows that ARK21 Shares 'Bitcoin ETF led this week's wave of divestments with a net outflow of $234.2 million. Grayscale's Bitcoin Trust ETF followed closely, with a net outflow of $129.1 million.

BlackRock's iShares Bitcoin Trust ETF also saw a withdrawal, losing $52.5 million this week. Fidelity's Wise Origin Bitcoin Fund recorded a net outflow of $50.7 million. Overall, the results suggest that the reversal is not limited to a single product-several major issuers have reported negative weekly liquidity data.

While day-to-day fluctuations in the ETF basket may be normal for the market, several large operators have recorded significant weekly declines, which is a noteworthy signal for traders monitoring whether funds flows are concentrated (often related to the behavior of specific investors) or scattered throughout a complex structure.

Broader flow picture: September remains net positive

Even after weekly reversals, spot Bitcoin ETFs remained in positive flow territory in September. As of Friday, these products had accumulated a net inflow of approximately $307.3 million in September, the report showed.

This is important because it changes the way people interpret this week's news. Negative weekly data may reflect temporary position corrections or macro-driven caution, but monthly data that remains positive suggests that large inflows have not completely disappeared over a longer period of time. The next key question for market participants is whether the ETF complex can stabilize its daily flows before monthly net earnings begin to erode.

Ether ETF turns positive amid strong inflows on Friday

In terms of Ether, according to Farside Investors, the U.S. spot Ether ETF recorded a net inflow of $196.9 million during the same period from Tuesday to Friday. The flow pattern was even more uneven earlier this week, with $24.3 million outflow on Tuesday,$34.7 million inflow on Wednesday, and $29.9 million outflow on Thursday.

Friday marked a turning point. Ether Fund attracted a net inflow of $216.4 million, which turned the four-day total positive despite repeated early fluctuations.

Product leadership also varies from day to day. BlackRock's iShares Ethereum Trust ETF dominated Friday's inflows, reaching $148.8 million, while the 21Shares core Ethereum ETF increased $29.1 million. In practice, such leadership changes can help investors determine where incremental demand is appearing in the Ether ETF series.

Overall, the comparison of Bitcoin outflows and Ether inflows within the same calendar window highlights the large differences in investor demand for these two major spot ETF ecosystems. Traders typically do not assume that flows always move synchronously, but rather watch whether capital rotates between Bitcoin and Ether based on positioning, risk appetite, and broader market sentiment.

Looking ahead, the next signals to be monitored are whether the outflows from Bitcoin ETFs will continue after Thursday's sharp withdrawal; and whether Ether's strong inflows on Friday can be maintained next week-because the month-to-date net position still supports Bitcoin, and Ether's reversal will be tested in the liquidity consistency of the next few trading days.