ETF Flows: Bitcoin Bleeds $13M, Ethereum Absorbs $216M on September 11
Bitcoin and Ethereum Exchange-Traded Funds (ETFs) saw starkly different flows on September 11. While Bitcoin funds experienced $13.29 million in net outflows, according to SoSoValue's tracker, Ethereum ETFs absorbed a substantial $216 million in fresh capital. This split verdict is part of a larger trend: over the three days leading up to September 11, Bitcoin ETFs had shed around $450 million in net outflows.
Comparatively, on September 3, Bitcoin ETFs posted a single-day inflow of $730.9 million, highlighting the volatility of these funds' performance. The reversal from that high to sustained outflows within days is indeed unsettling for risk managers. It's worth noting that different data providers may report varying figures due to differences in methodology and timing.
The larger context shows Bitcoin ETFs have accumulated over $55 billion in cumulative net inflows since their US launch in January 2024, with total assets under management across major issuers hovering near $97 to $99 billion in mid-September. Dominant players like BlackRock's iShares Bitcoin Trust consistently lead on volume.
The divergence between Bitcoin and Ethereum ETF flows is notable, particularly given the macroeconomic backdrop of inflation data and Federal Reserve meeting calendars. The fact that institutions are favoring Ethereum over Bitcoin suggests a relative value trade or shift in preference between these two assets. This volatility underscores that ETF wrappers do not alter the underlying asset's volatility profile.