U.S. spot Bitcoin and Ethereum ETFs pull in $1.2B over the week

U.S.-listed spot Bitcoin and Ethereum ETFs attracted a combined $1.2 billion in net inflows for the week ended Sept. 4, according to CoinDesk. Bitcoin funds brought in $986.7 million, representing more than 80% of total inflows. Ethereum funds added $215.3 million, a sharp deceleration from the prior week. Bitcoin ETF inflows near $1 billion Farside Investors data shows U.S. spot Bitcoin ETFs posted $986.7 million of net inflows across the five trading days from Aug. 31 to Sept. 4, up about 6.7% from $924.5 million the week before. Daily flows swung notably: Aug. 31 saw $216.7 million of net inflows; Sept. 1 flipped to $236.5 million of net outflows; the following three sessions delivered net inflows of $101.1 million, $730.8 million and $174.6 million. By issuer, BlackRock's Bitcoin fund led with roughly $691.5 million in weekly net inflows. ARKB recorded $137.7 million. Fidelity's products logged $948 million. Bitwise's BITB took in $41.7 million, while VanEck's HODL saw about $33 million of net outflows. Grayscale's GBTC posted a modest $18.6 million net inflow. The latest results lifted cumulative net inflows into U.S. spot Bitcoin ETFs to about $55.69 billion. Ethereum ETF inflows slow sharply Over the same period, U.S. spot Ethereum ETFs recorded $215.3 million in net inflows, down about 73.6% from $815.7 million the previous week. Ethereum ETF flows were mixed by day: net inflows of $87.6 million on Aug. 31 and $8.6 million on Sept. 1, followed by $48.2 million of net outflows on Sept. 2. Sept. 3 and Sept. 4 returned to net inflows of $141.4 million and $25.9 million. BlackRock's ETHA brought in $136.4 million for the week, and its staked Ethereum product ETHB added $81.8 million. Together, the pair drew $218.2 million, slightly above the market-wide total, implying net outflows among competitors. Fidelity's FETH recorded just $4.7 million of net inflows. Grayscale's high-fee ETHE saw $37 million of net outflows, while the Ethereum Mini Trust posted $17.1 million of net inflows, partially offsetting those redemptions. As of the weekend, cumulative net inflows into U.S. spot Ethereum ETFs stood near $13.19 billion. Sept. 3 delivered the biggest single-day demand The crypto ETF buying came amid a cautious tone across traditional U.S. funds. Reuters, citing LSEG Lipper data, reported that for the week ended Sept. 2, U.S. equity funds saw $11.12 billion of net outflows, including $7.52 billion from large-cap funds, while money market funds attracted $48.76 billion. The report tied the defensive positioning to rising Treasury yields, higher oil prices and escalating Middle East tensions. Sentiment improved on Sept. 3 after Federal Reserve Governor Waller said he could support keeping rates unchanged if inflation continues to cool. That day, Bitcoin and Ethereum ETFs together took in about $872.2 million, the strongest single-day showing of the week. Crypto prices also bounced, with Bitcoin briefly moving above $81,000 and Ethereum returning to around $2,500. The rebound did not hold. At the time of writing, Bitcoin was trading around $79,664, down about 1.8% on the day, while Ethereum was around $2,458, down roughly 2.8%. Markets remain focused on incoming Fed-related data. Rate expectations remain the key swing factor ETF demand is expected to remain sensitive to shifts in U.S. interest-rate expectations. The U.S. Bureau of Labor Statistics reported nonfarm payrolls rose by 162,000 in August and the unemployment rate held at 4.1%. The stronger jobs data pared back some of the dovish expectations that had followed Waller's remarks. Investors now turn to U.S. CPI data due Sept. 11 and the Federal Reserve's rate decision on Sept. 16. Persistently high inflation could weigh on crypto prices and ETF inflows, while continued disinflation could help stabilize or lower rate expectations. Despite near-term volatility, last week's figures indicate U.S. investors continued to add exposure to the two flagship crypto ETFs, with Bitcoin products retaining strong momentum and Ethereum products staying in positive territory even as inflows cooled.