U.S. spot Ether ETFs recorded $121.02 million in net inflows on Monday, marking a second consecutive session of positive flows, according to data compiled by Trader T and published September 15. BlackRock‘s ETHA led the day with $80.5 million, while Grayscale’s Mini ETH product added $16.23 million and BlackRock’s staking-linked ETHB drew another $14.39 million.
Fidelity’s FETH and 21Shares’ TETH posted smaller net inflows of $8.86 million and $6.47 million respectively. Invesco’s QETH was the lone outlier, shedding $5.43 million, while the remaining ether products saw no net flow on the day.
The single-day figures extend a broader divergence that has defined the market over the past week. Bitcoin ETFs suffered $462.7 million in net outflows over the five sessions through Friday, their worst stretch since a three-week inflow run ended abruptly on September 8. Selling accelerated Thursday, when the funds shed $282.7 million in their largest single-day outflow since July, before withdrawals slowed to $13.2 million on Friday. ARK 21Shares’ Bitcoin ETF led the exodus with $234.2 million in net redemptions, followed by Grayscale’s Bitcoin Trust at $129.1 million.
Ethereum funds moved in the opposite direction over the same stretch, pulling in $196.9 million despite choppy daily flows that included a $24.3 million withdrawal Tuesday. For the month so far, ether ETFs have now taken in $324.4 million, edging past Bitcoin’s $307.3 million in September inflows — a reversal that would have looked unlikely a month ago, when Bitcoin funds were on their strongest three-week run of the year.
Traders attribute part of the shift to institutions using spot ether ETFs as collateral for CME futures yield strategies, a structure that ties ETF demand more directly to derivatives positioning than with Bitcoin products. Bitcoin continues to trade below the psychologically important $80,000 level, a technical backdrop that has coincided with the recent outflow pressure. Whether the rotation into ether persists will likely hinge on how both assets react to this week’s Federal Reserve rate decision and the Senate’s cloture vote on crypto market-structure legislation.
