US spot Bitcoin exchange-traded funds posted $462.7 million in net outflows last week, ending a three-week streak of inflows. According to Farside Investors, withdrawals occurred across all four trading sessions from Tuesday to Friday. The selling intensified on Thursday with $282.7 million in daily outflows, the largest since July, before slowing to $13.2 million on Friday. ARK 21Shares led weekly losses with $234.2 million, followed by Grayscale’s Bitcoin Trust ETF at $129.1 million. Despite the reversal, Bitcoin ETFs remain positive for September with approximately $307.3 million in net inflows.
In contrast, US spot Ether ETFs recorded $196.9 million in net inflows over the same period. After mixed early-week flows, including $24.3 million in Tuesday outflows and $34.7 million in Wednesday inflows, the sector turned sharply positive on Friday with $216.4 million in net inflows. BlackRock’s iShares Ethereum Trust ETF drove this surge, adding $148.8 million, while the 21Shares Core Ethereum ETF contributed $29.1 million.
The divergence in capital flows suggests that institutional investors are rotating exposure between major digital assets rather than exiting the crypto market structure entirely. While Bitcoin ETFs experienced their most significant weekly reversal since earlier in the year, the sustained positive flow for September indicates underlying demand remains intact despite short-term volatility. Conversely, the strong late-week inflow into Ether ETFs highlights growing appetite for alternative asset classes within regulated investment vehicles.
This shift underscores the maturing nature of crypto market structure, where fund performance is increasingly driven by specific asset narratives rather than broad sector sentiment. The concentration of outflows in ARK 21Shares and inflows in BlackRock’s Ethereum product may reflect strategic rebalancing by large allocators seeking differentiated risk profiles. Monitoring whether these divergent trends persist will be critical for assessing long-term institutional adoption patterns.
