Bitcoin ETF Outflows Reach $463M as Ether and Altcoins Shine

The institutional investment landscape for cryptocurrencies shifted last week as bitcoin exchange-traded funds (ETFs) faced significant outflows, while ether, XRP, and Solana recorded gains.

Bitcoin ETFs experienced a reversal in fortunes after nearly $1 billion flowed into them the previous week. The category saw redemptions in every trading session from Sept 8-11, with Tuesday opening at a $46.65 million exit, accelerating to $120.24 million on Wednesday and $282.56 million on Thursday before slowing to $13.29 million on Friday.

The weekly outflows totalled $462.73 million, with Ark & 21Shares' ARKB suffering the largest loss at $234.2 million, followed by Grayscale's GBTC shedding $129.1 million, and Blackrock's IBIT and Fidelity's FBTC losing $52.5 million and $50.7 million respectively.

In contrast, ether ETFs attracted $197.11 million, extending its streak of positive weeks to four. The group experienced a surge on Friday, pulling in $216.41 million in a single session, erasing earlier weakness and highlighting the resilience of institutional demand for ethereum.