U.S.-listed spot crypto ETFs diverged sharply on September 2 as Bitcoin returned to positive territory with $101.1 million of net inflows while Ether, Solana and XRP funds simultaneously recorded withdrawals. BlackRock’s IBIT drove the Bitcoin recovery, attracting $115.4 million after losing $201.2 million one session earlier.
Grayscale’s Bitcoin Mini Trust added $30.4 million, Morgan Stanley’s MSBT received $7.3 million and Bitwise’s BITB brought in another $4.2 million. Those purchases outweighed $56.2 million of redemptions from Grayscale’s GBTC. The result lifted cumulative net inflows into U.S. spot Bitcoin ETFs to approximately $54.78 billion.
Bitcoin’s turnaround came after the category lost $236.5 million on September 1, meaning the funds have recovered roughly 43% of the previous session’s withdrawals.
Ether Breaks Inflow Streak as Bitcoin Recovers
Ether moved in the opposite direction. SoSoValue’s broader U.S. spot Ether ETF universe recorded approximately $48.08 million of net outflows, ending a 12-session streak of positive daily flows. BlackRock’s staking-focused ETHB remained a major source of demand, attracting approximately $52.91 million.
However, those purchases were overwhelmed by redemptions elsewhere. BlackRock’s non-staking ETHA lost approximately $53.4 million, Fidelity’s FETH recorded $26.2 million of withdrawals and Grayscale’s ETHE shed approximately $23.5 million.
The result reduced cumulative Ether ETF inflows to roughly $13.02 billion. Farside reports a slightly larger $49.7 million net outflow for its tracked universe because its coverage differs from SoSoValue’s broader product set. The direction of the session remains the same under either dataset.
The reversal was notable after Ether funds remained positive throughout the second half of August and attracted another $10.95 million on September 1 under SoSoValue’s coverage.
Solana and XRP End Multiweek Inflow Runs
Solana ETFs also turned negative, posting $6.1 million of net withdrawals. The entire outflow came from Bitwise’s BSOL, while Fidelity’s FSOL, VanEck’s VSOL, Franklin Templeton’s SOEZ and Grayscale’s GSOL reported no net movement.
The result ended an extended period without a negative session for Solana funds and reduced cumulative inflows in Farside’s tracked products to approximately $1.31 billion. XRP ETFs similarly recorded approximately $7.2 million of net outflows, with the withdrawal concentrated in Bitwise’s XRP ETF.
The other tracked XRP products reported no net flows. That broke an even longer positive run after XRP funds had accumulated roughly $170 million over their preceding 11-session inflow streak and approximately $1.68 billion since launching.
Hyperliquid funds were the quietest category. Bitwise’s BHYP, 21Shares’ THYP and Grayscale’s HYPG all reported zero flows on September 2, leaving cumulative HYPE ETF inflows at approximately $352 million.
Using SoSoValue’s broader $48.08 million Ether figure, the five categories — Bitcoin, Ether, Solana, XRP and HYPE — generated approximately $39.7 million of combined net inflows. That represents a dramatic change in composition from September 1.
On Tuesday, Bitcoin lost $236.5 million while Ether, Solana, XRP and HYPE all attracted capital. One session later, Bitcoin became the only major category among the four largest crypto ETF markets to finish meaningfully positive. The two sessions together suggest institutional crypto allocations are continuing to rotate between assets rather than moving uniformly in or out of the sector.
For September so far, Bitcoin remains approximately $135.4 million in net outflows despite Wednesday’s rebound, while the latest withdrawals have begun eroding the positive momentum that Ether, Solana and XRP carried into the month.