Bitcoin ETFs saw strong inflows of $301 million on September 3, led overwhelmingly by Blackrock’s IBIT, while ether ETFs marked their third consecutive day of outflows with $38 million lost, dragged down by a massive exit from ETHA.
Bitcoin ETFs Rally Adds $301 Million as Ether Logs Third Day of Outflows
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Crypto ETFs Diverge Again: BTC Surges While ETH Drags With $38 Million Exit
Momentum is swinging back in bitcoin’s favor, but ether continues to stumble. Wednesday’s exchange-traded funds (ETF) flows revealed a sharp divergence as investors rotated heavily into BTC products while ETH funds recorded their third straight day of redemptions.
Bitcoin ETFs raked in $301.32 million in inflows, dominated by Blackrock’s IBIT, which absorbed an impressive $289.84 million. Grayscale’s Bitcoin Mini Trust added $28.83 million, and Fidelity’s FBTC chipped in with $9.76 million. Valkyrie’s BRRR saw a modest $790.88k entry.
The only blemish was Ark 21Shares’ ARKB, which logged a $27.90 million outflow. Overall, value traded was steady at $2.78 billion, with bitcoin ETF net assets climbing to $145.25 billion.
Ether ETFs, however, closed red again with $38.24 million in outflows. Bright spots included Fidelity’s FETH with $65.78 million, Grayscale’s Ether Mini Trust at $26.55 million, and Bitwise’s ETHW with $20.81 million in inflows.
But a massive $151.39 million exit from Blackrock’s ETHA wiped out the gains and pushed ether into negative territory for a third consecutive day. Total value traded came in at $2.07 billion, while net assets held at $29.21 billion.
The divergence continues to underscore investor caution around ether while bitcoin, once again, asserts itself as the stronger institutional play in early September.
About the author
WRITTEN BYEmmanuel Musa
Emmanuel Musa is a financial journalist and crypto analyst based in Africa.
