Bitcoin and Ether ETFs Pull in $452 Million as BlackRock's IBIT and ETHA Lead Sept. 23 Flows
Key Takeaways
- •U.S. spot Bitcoin and Ether ETFs drew approximately $452 million in combined net inflows on Sept. 23, according to SoSoValue data.
- •Bitcoin ETFs accounted for $347 million of the day's total, with BlackRock's IBIT alone contributing $166 million, nearly half the category's figure.
- •Ether ETFs added $105 million, led by BlackRock's ETHA with about $50.8 million, equivalent to roughly 18,300 ETH, followed by ETHF at around 15,000 ETH.
- •Aggregate Bitcoin ETF flows have been volatile since the January 2024 launch, featuring a peak inflow near $1.35 billion and withdrawals approaching $700 million to $1 billion as Bitcoin moved toward $100,000 and later declined into the $70,000-$80,000 range.
- •Entering 2026, Bitcoin ETF inflows have ranged from roughly $200 million to $600 million alongside sizeable withdrawals, while Ether fell toward $1,800-$,000 after climbing toward $4,500-$4,600 in 2025.
U.S. spot Bitcoin and Ether exchange-traded funds (ETFs) took in roughly $452 million in combined net inflows on Sept. 23, with BlackRock's products leading both categories. Bitcoin ETFs accounted for $347 million of the total, led by BlackRock's IBIT with $166 million, while Ether ETFs added $105 million, led by BlackRock's ETHA with approximately $50.8 million, according to SoSoValue data. Net daily flows — the balance of money moving into the funds versus withdrawals from them — are the metric through which demand for these products is tracked session by session.
Bitcoin ETFs Post $347 Million in Daily Inflows
Bitcoin ETFs recorded $347 million in net inflows during the session, with BlackRock's IBIT topping the group at $166 million, per SoSoValue. That single line item amounted to nearly half the category's total, a measure of how far one fund can move the day's headline figure. Aggregate flows have been volatile since the launch of U.S. spot Bitcoin ETFs in January 2024. Bitcoin rose from about $42,000 to above $70,000 in early 2024 alongside several inflow spikes: some daily inflows exceeded $500 million, and the largest early spike approached $1 billion.
Activity later intensified, with several inflows reaching $1 billion or more, including one of roughly $1.35 billion, while some outflows approached $700 million to $1 billion. Bitcoin subsequently moved toward $100,000 during mid-2025.
The second half of 2025 brought larger two-way flows, however, with several withdrawals approaching $800 million to $900 million as Bitcoin declined toward the $70,000-$80,000 range.
Ether ETFs Add $105 Million
Ether ETFs recorded $105 million in net inflows on Sept. 23, with BlackRock's ETHA leading at approximately $50.8 million for the day. Daily flows remain concentrated among a handful of funds.
ETHA posted about 18,300 ETH in net inflows, followed by ETHF at roughly 15,000 ETH, while other funds took in approximately 1,000 to 1,500 ETH each. The final ETH category recorded an outflow of roughly 1,470 ETH.
Historically, aggregate Ethereum ETF flows have repeatedly moved above 100,000 ETH, with the largest spike approaching 240,000 ETH around mid-2025.
ETF Flows Remain Volatile Into 2026
Bitcoin ETF flows have remained mixed entering 2026, with inflows ranging from about $200 million to $600 million alongside sizeable withdrawals. More recently, several positive sessions have appeared, including a latest spike approaching $1 billion.
Ethereum ETF flows have also been uneven despite intermittent positive sessions. Ether climbed toward $4,500-$4,600 during 2025 before falling toward $1,800-$2,000 in 2026. The latest figures therefore show positive flows across both major spot crypto ETF categories on Sept. 23. Subsequent daily readings will show whether the two categories continue to take in money at the same time.
