U.S. spot crypto ETFs recorded a net outflow of approximately $70.7 million for the week of September 14–18. Fund flows showed clear divergence: Ethereum products saw the largest outflows, Bitcoin barely turned positive, and Solana continued to attract new capital.
Ethereum had the highest outflow.
According to Farside Investors data, Ethereum products saw a net outflow of approximately $140.6 million for the week, the weakest performance among the four categories of crypto ETFs tracked in the U.S. market. Although they regained about $143.7 million in inflows on Friday, this did not reverse the weekly net outflow.
On a daily basis, Ethereum ETFs saw a net inflow of $121.1 million on Monday, followed by outflows of $142 million on Tuesday, $224.1 million on Wednesday, and $39.3 million on Thursday. The weekly deficit narrowed after a rebound on Friday.
By product, BlackRock’s ETHA had a net outflow of $56.1 million for the week, Fidelity’s FETH had an outflow of $25.9 million, and Bitwise’s ETHW had an outflow of $33.1 million. Meanwhile, BlackRock’s ETHB and Grayscale’s low-fee ETH fund saw net inflows of $7 million and $16.2 million, respectively.
Bitcoin flows back on Friday
Bitcoin spot ETFs recorded a net inflow of approximately $6.1 million this week, with a single-day inflow of $433 million on Friday, largely recovering most of the losses incurred mid-week. Large redemptions over the previous two days had briefly brought these products close to a significant weekly net outflow.
In terms of flow, Bitcoin ETFs saw a net inflow of $159.9 million on Monday, an outflow of $450.4 million on Tuesday, an outflow of $295.9 million on Wednesday, a rebound of $159.5 million on Thursday, and a further inflow of $433 million on Friday.
By product, BlackRock’s IBIT saw net inflows of $120.6 million for the week, while Fidelity’s FBTC recorded net inflows of $79.9 million, including a single-day inflow of $310.7 million on Friday. Meanwhile, ARK 21Shares’ ARKB experienced net outflows of $141.9 million, and Grayscale’s GBTC saw net outflows of $62.3 million.
The report noted that this round of capital inflow coincided with Bitcoin reclaiming the $80,000 mark on Friday. Although the market had initially been affected by the Federal Reserve's 25-basis-point interest rate hike, Bitcoin's price rebounded as oil prices declined and cryptocurrency-related stocks recovered.
Solana recorded a net inflow of $60.7 million.
The Solana ETF recorded a net inflow of $60.7 million this week, outperforming all four product categories. Net inflows occurred on four out of five trading days, with a single-day inflow of $47.6 million on Friday accounting for the majority of the weekly increase.
Bitwise's BSOL contributed $58.7 million in net inflows, Grayscale's GSOL saw $2 million in net inflows, and other Solana products experienced negligible fund movements for the week.
Hyperliquid ETF saw a net inflow of $3.1 million this week. Although significantly smaller in scale compared to Bitcoin, Ethereum, and Solana products, it maintained positive inflows despite volatile intraweek movements. Overall, fund flows across the four crypto ETFs have clearly diverged: Ethereum faced the strongest outflows, Solana showed relative strength, and Bitcoin held onto positive flows thanks to Friday’s inflows.