Crypto ETFs see mixed flows as Grayscale GBTC outflows hit $40.3 million, ETHE loses $80.6 million On Sep. 23, Bitcoin ETFs saw mixed flows, totaling $4.5 million. Fidelity’s FBTC ETF led inflows with $24.9 million, followed by BlackRock’s IBIT with $11.5 million. Grayscale’s smaller BTC fund also added $8.4 million. However, this was offset by significant outflows of $40.3 million from Grayscale’s GBTC, which remains one of the largest Bitcoin ETFs in the market. Other major funds, including Bitwise’s BITB, Ark’s ARKB, Invesco’s BTCO, and others, showed no activity, with flows remaining flat.
Ethereum ETFs experienced substantial net outflows, totaling a negative $79.3 million. Grayscale’s ETHE fund drove the bulk of the movement with significant outflows of $80.6 million, marking a sharp shift in investor sentiment. Bitwise’s ETHW was the only fund with inflows, recording $1.3 million, while all other Ethereum ETFs, including those from BlackRock, Fidelity, 21Shares, VanEck, Invesco, and Franklin, reported no inflows or outflows.
The contrasting flows spotlight ongoing volatility and selective investor participation. Bitcoin ETFs saw pockets of demand, while Ethereum ETFs, particularly Grayscale’s, faced pronounced withdrawals.
Analyst 
Liam 'Akiba' Wright
Also known as "Akiba," Liam Wright is a reporter, podcast producer, and Editor-in-Chief at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
$3,211.13
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Grayscale Investments
Established in 2013 by Digital Currency Group, Grayscale Investments is a trusted authority on digital currency investing and cryptocurrency asset management.