Key Takeaways
- • US spot Bitcoin ETFs recorded a net outflow of $120.24 million on September 9, 2026, marking the second consecutive trading day of capital flight from Bitcoin products.
- • Ark Invest's ARKB led Bitcoin outflows with $77.98 million exiting, while BlackRock's IBIT shed $19.53 million; Morgan Stanley's MSBT was the sole Bitcoin ETF to attract inflows at $4.49 million.
- • Spot Ethereum ETFs reversed course with $34.75 million in net inflows on the same day, demonstrating a divergence in institutional capital flows between the two largest cryptocurrency ETF categories.
- • BlackRock's staking ETF ETHB captured the largest Ethereum inflow at $22.94 million, followed by ETHA with $9.71 million and 21Shares' TETH with $2.1 million.
- • The divergence signals shifting institutional allocation preferences, with Ethereum attracting fresh capital while Bitcoin experiences consecutive days of redemptions.
Summary
US spot Bitcoin exchange-traded funds experienced a second consecutive day of capital outflows on September 9, 2026, with total net redemptions reaching $120.24 million. This sustained outflow period reflects a potential shift in institutional sentiment toward Bitcoin products, following what appears to be a period of accumulation earlier in 2026. Ark Invest's ARKB cryptocurrency ETF bore the brunt of the selling pressure, with $77.98 million in net outflows, representing the largest single product redemption. BlackRock's flagship Bitcoin ETF, IBIT, also experienced meaningful outflows of $19.53 million, indicating broad-based profit-taking or rebalancing across major Bitcoin vehicles.
The outflow pattern was not uniform across all Bitcoin ETF providers. Morgan Stanley's MSBT attracted $4.49 million in net inflows during the same period, suggesting selective accumulation among certain institutional investors and highlighting that not all Bitcoin ETF capital is moving in the same direction. This divergence may reflect different investor bases, fee structures, or specific investment mandates associated with individual Bitcoin products.
Ethereum spot ETFs exhibited markedly different capital dynamics on the same trading day, recording $34.75 million in net inflows and reversing a one-day outflow pattern. This turnaround underscores a tactical rotation away from Bitcoin into Ethereum products within the cryptocurrency ETF ecosystem. BlackRock's staking ETF, ETHB, commanded the strongest inflow at $22.94 million, suggesting institutional demand for Ethereum exposure with embedded staking yield. BlackRock's non-staking Ethereum vehicle, ETHA, drew $9.71 million, while 21Shares' TETH captured $2.1 million, indicating broad institutional appetite across multiple Ethereum ETF structures.
The divergent flows between Bitcoin and Ethereum ETFs during this two-day window signal a meaningful reallocation of institutional capital within the cryptocurrency ETF complex, with investors selectively reducing Bitcoin exposure while simultaneously increasing Ethereum positions.
The outflow pattern was not uniform across all Bitcoin ETF providers. Morgan Stanley's MSBT attracted $4.49 million in net inflows during the same period, suggesting selective accumulation among certain institutional investors and highlighting that not all Bitcoin ETF capital is moving in the same direction. This divergence may reflect different investor bases, fee structures, or specific investment mandates associated with individual Bitcoin products.
Ethereum spot ETFs exhibited markedly different capital dynamics on the same trading day, recording $34.75 million in net inflows and reversing a one-day outflow pattern. This turnaround underscores a tactical rotation away from Bitcoin into Ethereum products within the cryptocurrency ETF ecosystem. BlackRock's staking ETF, ETHB, commanded the strongest inflow at $22.94 million, suggesting institutional demand for Ethereum exposure with embedded staking yield. BlackRock's non-staking Ethereum vehicle, ETHA, drew $9.71 million, while 21Shares' TETH captured $2.1 million, indicating broad institutional appetite across multiple Ethereum ETF structures.
The divergent flows between Bitcoin and Ethereum ETFs during this two-day window signal a meaningful reallocation of institutional capital within the cryptocurrency ETF complex, with investors selectively reducing Bitcoin exposure while simultaneously increasing Ethereum positions.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.