Bitcoin ETFs Saved by $433M Friday Surge as Ether Funds End Winning Streak
Ether Funds End Winning streak as U.S. spot Bitcoin ETFs saw a dramatic, last-minute surge of investor capital on Friday, September 18. S. spot Bitcoin exchange-traded funds (ETFs) narrowly prevented a second consecutive week of losses. Investors poured $433 million into the products on Friday, September 18, erasing a substantial weekly deficit and ending with a meager $6.2 million net inflow for the week.
The story was starkly different for spot Ether ETFs. These funds experienced a significant reversal of fortune, snapping a four-week streak of positive inflows. They concluded the week with a net outflow of approximately $140 million, highlighting a growing divergence in investor sentiment between the two largest cryptocurrencies.
Ether Funds End Winning Streak
The week for Bitcoin ETFs was a rollercoaster, defined by heavy withdrawals early on that almost sealed a negative outcome. After a promising start with $160 million in inflows on Monday, sentiment soured dramatically. Tuesday saw a massive outflow of $450.3 million, followed by another $296 million withdrawal on Wednesday.
Even with a partial recovery of $159.5 million on Thursday, the funds were still facing a weekly deficit of over $426 million heading into the final trading day. The strong Friday performance, the largest single-day inflow since September 3, was just enough to push the weekly total into positive territory.
This recovery underscores the volatile nature of crypto investment vehicles, where sentiment can shift dramatically within a single trading week. The market is closely watching to see if these XRP ETF flows and others show similar patterns.
This performance stands in contrast to the prior week, which logged a substantial $462.7 million in net outflows. The narrow escape this week suggests that while selling pressure exists, there remains a resilient base of buyers ready to step in at key moments, preventing a sustained downturn in investment flows.
Fidelity and BlackRock drive the friday recovery
The heroic Friday turnaround was largely powered by two of the market’s biggest players. Fidelity’s FBTC was the standout performer, single-handedly accounting for $310.7 million of the day’s total net inflow. This significant contribution was crucial in offsetting the week’s earlier losses.
BlackRock’s IBIT, the largest fund in the category by assets under management, also played a key role, adding a substantial $108.4 million in new capital. Smaller inflows from funds managed by Bitwise, VanEck, and the Ark/21Shares partnership also contributed to the positive daily figure. However, the concentration of inflows in the top two funds highlights their market dominance.
The bigger weekly picture
Despite the strong Friday showing from the leaders, the full weekly flow data tells a more nuanced story. When viewed across the entire week, BlackRock’s IBIT actually attracted more net new cash, with $120.7 million in total inflows. Fidelity’s FBTC, despite its massive Friday, ended the week with a more modest $79.9 million in net inflows.
The slim overall weekly total of just $6.2 million reveals that other bitcoin funds collectively lost around $194.4 million over the same period. This indicates that investors were not universally buying but were instead rotating capital, with significant outflows from some products being consolidated into the market leaders.
Ether funds snap their winning streak
For spot Ether ETFs, the week marked the end of a prosperous period. A four-week streak of positive net inflows, which had brought a combined $1.94 billion into the funds, came to an abrupt halt. The products ended the week with a net outflow of $140 million.
The damage was done during the middle of the week. Three consecutive days of negative flows from Tuesday through Thursday drained a total of $404.8 million from the funds. Inflows on Monday and a respectable $143.8 million inflow on Friday were not enough to plug the hole created by the mid-week exodus.
Even the market leaders were not immune. BlackRock’s ETHA, which drew an impressive $114.3 million on Friday, still finished the week with a net outflow of $56.1 million. Similarly, Fidelity’s FETH lost $25.8 million over the week, despite adding $26.2 million on Friday.
This was the first negative week for Ether ETFs since mid-August, signaling a potential cooling of investor appetite after a strong run. It’s part of a broader trend where major players like Coinbase targets stock-based derivatives and other products to diversify offerings.
Investor resilience and long-term holdings
Despite the week-to-week turbulence, the overall picture for crypto ETFs points to a remarkable resilience among early investors. Bloomberg ETF analyst Eric Balchunas recently commented on this phenomenon, noting the “incredible intestinal fortitude from the Boomers” who held on through a 50% market drawdown earlier in the year.
He observed that cumulative inflows have remained robust, peaking near $63 billion and settling around the current $55 billion mark.
As of last Friday, U.S. spot Bitcoin ETFs held total net assets of $102.53 billion, built on top of $55.16 billion in cumulative inflows since their launch. However, for the year 2026, the funds are still down about $1.45 billion in net flows.
This suggests that while a strong core of holders remains, the pace of new investment has slowed compared to the initial launch frenzy.
Ether ETFs, while newer, also show a solid foundation. The funds hold $16.72 billion in net assets against $13.25 billion in cumulative inflows. And unlike their Bitcoin counterparts, they remain positive for the year, with approximately $922 million in net inflows so far in 2026.
Trading activity has also picked up significantly, with firms using new tools as Blockworks launches AI compliance alerts to manage the increased volume.
Trading volumes for both categories surged last week. Bitcoin ETF volume nearly doubled to $16.17 billion from $8.77 billion the week prior. Ether ETF volume also saw a healthy increase, rising to $6.82 billion from $5.14 billion.
While part of this increase is attributable to the previous week being shortened by the Labor Day holiday, it still points to heightened engagement and activity in the market.