U.S. spot Bitcoin and Ethereum ETFs pulled in a combined $1.2 billion for the week ending Sept. 4, with Bitcoin funds taking more than 80% of the total. Ethereum demand cooled sharply from the prior week, even as a Sept. 3 rebound in crypto prices drove the week's biggest daily inflows.
Spot Bitcoin ETFs added $986.7 million in net inflows between Aug. 31 and Sept. 4. That edged past the $924.5 million recorded the previous week. Ethereum funds added a further $215.3 million, rounding out the $1.2 billion combined total for the two asset categories.
Bitcoin ETF inflows approach $1 billion
The week opened with $216.7 million in net inflows on Aug. 31, then flipped to $236.5 million in withdrawals on Sept. 1. Demand returned over the next three sessions, and Sept. 3 alone accounted for roughly 74% of the entire weekly total. BlackRock's spot Bitcoin products led that day with $454 million, while ARK Invest and 21Shares' ARKB added $137.7 million.
Across the full week, BlackRock's funds brought in about $691.5 million, with ARKB adding $137.7 million and Fidelity's FBTC contributing $94.8 million. VanEck's HODL posted roughly $33 million in net withdrawals. Cumulative net inflows into U.S. spot Bitcoin ETFs have now reached approximately $55.69 billion.
Ethereum ETF demand slows from the previous week
Ethereum funds stayed net positive but pulled in $215.3 million, down about 73.6% from the $815.7 million added the week before. BlackRock's ETHA and its staked ETHB product together brought in $218.2 million, more than the category's total after outflows from Grayscale's higher-fee ETHE and other funds were netted out. Cumulative Ethereum ETF inflows stand at about $13.19 billion.
Crypto ETF demand diverges from wider U.S. funds
The inflows arrived during a cautious week for conventional funds. U.S. equity funds saw $11.12 billion in withdrawals in the week ending Sept. 2, according to Reuters, which tied the caution to rising bond yields, higher oil prices and Middle East tensions. Sentiment improved on Sept. 3 after Federal Reserve Governor Christopher Waller said he could support holding rates steady if inflation kept easing, and crypto ETFs recorded their largest daily inflow of the week that same day as Bitcoin climbed above $81,000 and Ethereum moved back toward $2,500.
That move did not hold. Bitcoin was trading near $79,664, down about 1.8% over the latest session, while Ethereum traded around $2,458 after a 2.8% decline.
U.S. data keeps rate expectations in focus
The Bureau of Labor Statistics reported nonfarm payrolls rose by 162,000 in August, with unemployment holding at 4.1%. The stronger reading tempered some of the optimism from Waller's comments, since a resilient labor market gives the Fed more room to keep borrowing costs elevated. Investors now turn to the Sept. 11 consumer price index report and the Fed's Sept. 16 policy decision, with further evidence of persistent inflation likely to pressure crypto prices and ETF demand.
Source: crypto.news
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