Wall Street’s romance with digital assets is getting complicated. After a brutal four-day stretch, American Bitcoin funds are officially hemorrhaging cash, losing $13.29 million on Friday, September 11 alone.
Meanwhile, Ethereum ETFs are thriving, vacuuming up an impressive $216.41 million on the exact same day to seal their fourth straight week in the green. Institutional money hasn’t left the chat—it’s just redecorating.
Friday’s $13 million Bitcoin dip might sound like pocket change for high finance, but the broader pattern is impossible to ignore. Just a week prior, these funds were bragging about a massive $986.9 million windfall.
Fast-forward to today, and that goodwill has evaporated into $462.73 million in weekly outflows.The original cryptocurrency remains awkwardly glued to the $77,000 mark.
Sorting through the Bitcoin wreckage, BlackRock’s IBIT took the heaviest hit with $19.23 million rushing for the exit.A few contrarians held the line: Morgan Stanley’s MSBT managed to pull in $3.76 million, and VanEck’s HODL grabbed $2.18 million.
Yet, despite generating $2.60 billion in Friday trading volume, Bitcoin funds are inching dangerously close to a $1 billion annual deficit.
Across the aisle, the mood is decidedly more euphoric. The six American Ethereum ETFs are practically throwing a parade, fueled by that $216.41 million Friday haul.BlackRock’s ETHA is the undisputed main character here, single-handedly pulling in $148.82 million.
Bitwise’s ETHW followed with a respectable $29.09 million, while BlackRock’s ETHB and Fidelity’s FETH scooped up $18.32 million and $11.40 million, respectively.
The Fed’s Shadow Over Ethereum ETFs
This recent surge brought total volume for Ethereum ETFs to $2.56 billion, lifting their net assets to a cool $16.31 billion.After shaking off a minor $24 million dip earlier in the week, these funds locked in about $197 million in positive weekly flows.
Ether reserves on centralized platforms are also shrinking, adding a layer of genuine scarcity to the current market rally.
So, who is pulling the strings behind this mood swing? Look no further than the Federal Reserve. The Bureau of Labor Statistics just dropped its September 11 report, revealing a 0.4% monthly inflation bump and a 3.4% year-over-year rise.Core inflation might have cooled to 2.4%—its lowest since March 2021—but that sneaky 0.3% monthly uptick was enough to spook investors.
The macroeconomic tension leaves traders holding their breath ahead of the Fed’s next move. Outside the heavyweights, the broader market is eerily quiet. Hyperliquid funds shed $8.18 million, Solana lost a modest $278,840, and XRP funds sat completely flat with zero net flows.
If Bitcoin suffers a fifth consecutive session of outflows, the narrative of its current weakness will be fully cemented.
On the flip side, Ethereum ETFs will need a few more $200-million days to prove this is a permanent institutional rotation rather than a fleeting crush.Until the Fed takes the mic, Wall Street is hedging its bets and carefully watching the charts.