Bitcoin ETFs Shed $236.5M as Solana Funds Draw $101.9M in…

U.S.-listed crypto exchange-traded funds opened September with a sharp rotation away from Bitcoin, as spot BTC products recorded $236.5 million of net outflows while Solana ETFs attracted approximately $101.9 million. Bitcoin's reversal came only one session after the category drew $216.7 million on August 31.BlackRock's IBIT accounted for most of Tuesday's selling with $201.2 million of withdrawals, while Fidelity's FBTC lost another $43.7 million. Bitwise's BITB was the only Bitcoin fund to record an inflow, adding $8.4 million.ARK 21Shares' ARKB, Grayscale's GBTC and Bitcoin Mini Trust, VanEck's HODL, Morgan Stanley's MSBT and the remaining tracked products recorded no net flows. Cumulative Bitcoin ETF inflows declined to approximately $54.68 billion following the session.

Solana Funds Absorb $101.9 Million

Solana provided the strongest counterweight to Bitcoin's withdrawals. U.S. spot Solana ETFs attracted approximately $101.9 million on September 1, accelerating dramatically from just $925,000 of inflows on August 31. Bitwise's BSOL led with approximately $61.7 million, while Fidelity's FSOL added $26.7 million.The result pushed cumulative Solana ETF inflows above $1.4 billion and came despite SOL declining alongside the broader cryptocurrency market. XRP ETFs also remained positive, recording $14.38 million of net inflows. Franklin Templeton's XRPZ led with $6.63 million, while Grayscale's GXRP contributed another $4.72 million.Cumulative XRP ETF inflows reached approximately $1.68 billion, extending the category's positive streak to 11 consecutive trading sessions. Hyperliquid products added another $1.76 million.The entire HYPE inflow went into Grayscale's HYPG, bringing cumulative inflows across U.S. HYPE ETFs to approximately $346 million and total net assets to about $455 million.

Ether Extends Inflow Streak Despite Bitcoin Selling

Ether ETFs remained marginally positive for a 12th consecutive trading session. SoSoValue's broader product universe recorded $10.95 million of net inflows. BlackRock's staking-focused ETHB led with $11.2 million, Fidelity's FETH attracted $4.81 million and Morgan Stanley's MSSE added approximately $2.34 million.Grayscale's ETHE partially offset those purchases with $7.4 million of withdrawals. Farside reports a slightly lower $8.6 million aggregate because its tracked universe does not include the Morgan Stanley product. Either measure leaves Ether positive while Bitcoin experienced substantial redemptions.Using the broader SoSoValue figure for Ether, the five major categories — BTC, ETH, SOL, XRP and HYPE — recorded a combined net outflow of approximately $107.5 million. Without Solana's $101.9 million contribution, that deficit would have been considerably larger.The September 1 session therefore extends a pattern visible at the end of August: institutional crypto demand is increasingly fragmented rather than moving uniformly with Bitcoin. On August 31, Bitcoin had attracted $216.7 million, Ether $87.7 million, Solana $925,000 and XRP $5.64 million.One day later, Bitcoin surrendered more than its entire Monday inflow while capital accelerated dramatically into Solana. The divergence occurred as crypto prices weakened amid rising global bond yields, renewed inflation concerns and increasingly hawkish expectations for Federal Reserve policy.That makes the ETF composition notable. Investors did not simply withdraw from digital-asset products as risk appetite deteriorated. Instead, the largest redemptions were concentrated in Bitcoin, particularly IBIT and FBTC, while regulated products tied to Ether, Solana, XRP and HYPE continued absorbing capital.Whether that rotation persists through September will determine if Tuesday's flows represent a temporary portfolio rebalance or a more durable broadening of institutional demand beyond Bitcoin.