U.S. spot crypto exchange-traded funds opened the week with $55.8 million in combined net inflows on Monday, September 28, as demand across Bitcoin, Ether and Solana products slowed substantially from the previous session.Bitcoin ETFs attracted $31 million, Ether funds added $17.1 million, and Solana products recorded another $7.7 million, according to finalized Farside Investors data.All three categories therefore remained positive, but Monday’s combined total was approximately 82% below Friday’s $308.2 million.The slowdown was most pronounced in Bitcoin and Solana. Bitcoin inflows fell from $134.5 million Friday, while Solana dropped from its record $86.7 million session. Ether declined from $87 million.Bitcoin also traded under pressure Monday, slipping toward $82,000-$84,000 as rising U.S. Treasury yields and geopolitical uncertainty weighed on risk assets.
BlackRock Offsets Fidelity and Grayscale Bitcoin Outflows
BlackRock’s iShares Bitcoin Trust, IBIT, was the principal source of fresh Bitcoin demand, attracting $54.8 million. Those inflows were partly offset by $23.2 million of redemptions from Grayscale’s GBTC and another $10.9 million from Fidelity’s FBTC.Grayscale’s lower-fee Bitcoin Mini Trust moved in the opposite direction, attracting $10.3 million. The remaining tracked products — BITB, ARKB, BTCO, EZBC, BRRR, HODL, BTCW and Morgan Stanley’s MSBT — recorded no net movement. The resulting $31 million category total represented a roughly 77% decline from Friday and was the weakest positive Bitcoin ETF session since the current inflow streak began.The contrast with the previous week was particularly sharp. Bitcoin ETFs attracted $999 million on September 21 and $714.7 million on September 22 before gradually slowing to $346.9 million Wednesday, $190.7 million Thursday and $134.5 million Friday. Monday nevertheless extended that sequence of positive aggregate flows.
Ether and Solana Stay Positive as Demand Cools
Ether ETF activity was even more concentrated. BlackRock’s ETHA accounted for $15.4 million of Monday’s $17.1 million total, while 21Shares’ TETH added $1.7 million. Every other tracked Ether product, including BlackRock’s ETHB, Fidelity’s FETH, Bitwise’s ETHW and both Grayscale funds, recorded zero net flows.That left Ether inflows approximately 80% below Friday’s $87 million. Solana funds showed a similar slowdown following Friday’s record session.Bitwise’s BSOL attracted $9.7 million, but VanEck’s VSOL recorded a $2 million outflow, reducing the category’s net total to $7.7 million. Fidelity’s FSOL, 21Shares’ TSOL, Franklin Templeton’s SOEZ, Morgan Stanley’s MSOL and Grayscale’s GSOL were all flat.Monday therefore marked a sharp reversal in momentum from Friday, when Solana ETFs attracted a record $86.7 million led by $55.7 million into BSOL. The broader signal remained positive but substantially weaker.Across Bitcoin, Ether and Solana, BlackRock’s $70.2 million of combined Bitcoin and Ether inflows alone exceeded the entire market’s $55.8 million net total, as withdrawals from other funds offset part of its demand.That concentration makes Monday different from the stronger sessions of the previous week: institutional crypto ETF demand remained net positive, but the magnitude and breadth of new capital entering the market both contracted sharply.