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US spot Bitcoin ETFs hemorrhaged $120.2 million on September 9, marking the second straight day of net redemptions. Meanwhile, Ethereum ETFs moved in the opposite direction, pulling in $34.75 million on the same day.
Zoom out to the trailing seven days and Bitcoin ETFs actually posted roughly $820 million in net inflows. One day’s red ink looks a lot less alarming when the weekly ledger is still deeply green.
Where the money moved
The Bitcoin ETF outflows on September 9 were concentrated in two familiar names. ARK 21Shares’ ARKB led the retreat with $78 million in net redemptions, while Grayscale’s GBTC shed $27.2 million. The prior session, September 8, had already seen $46.6 million leave Bitcoin ETFs, bringing the two-day total to roughly $166.8 million.
That back-to-back daily outflow streak was the first of its kind since mid-August. For context, September 3 alone saw $730.9 million pour into Bitcoin ETFs. So the recent pullback erased less than a quarter of a single day’s inflows from earlier in the month.
Ethereum ETFs told the opposite story. The $34.75 million in net inflows on September 9 was driven primarily by BlackRock’s staking-enabled ETHB product, which accounted for $22.94 million of that total.
The bigger picture looks different
Since spot Bitcoin ETFs launched in the US, they’ve attracted approximately $55 billion in total net inflows. However, 2026 as a calendar year has been choppier, with roughly $1.07 billion in net outflows on the year overall.
That year-to-date deficit means Bitcoin ETF investors in aggregate have been net sellers in 2026, even as individual weeks post massive inflows.
What the divergence signals
For Bitcoin ETFs, the consecutive daily outflows are a minor speed bump in what has been a volatile but ultimately positive flow trend over recent weeks. The $730.9 million single-day inflow on September 3 dwarfs the combined $166.8 million that left over the following two sessions.
The year-to-date net outflow figure of $1.07 billion is worth monitoring more closely. If that deficit continues to widen through September, it could signal that institutional allocators are trimming crypto exposure heading into the fourth quarter. Conversely, a strong week of inflows could flip the YTD number back to positive territory relatively quickly, given the magnitude of flows this market routinely produces.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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