Cryptocurrency

Ethereum ETFs Took In $216 Million on Friday. Bitcoin’s Lost Money for a Fourth Day and XRP’s Took Zero

Three crypto ETFs each reversed course on the same day, but they reversed in three completely different directions, and only one of those reversals carries enough weight to signal where institutional money is actually heading.

By Sam Daodu
Published September 12, 2026, 5:11pm ET · 3 min read

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A hand holds a light brown wooden block with a black dollar sign. To its right, three other light brown wooden blocks spell out 'E', 'T', and 'F' consecutively. These blocks rest on a dark gray financial candlestick chart showing a fluctuating market trend with red and green bars. US dollar bills are visible in the lower right foreground and upper right background, along with a blurred bar chart on white paper in the upper left background.
Wooden blocks spelling 'ETF' and a dollar sign on a financial chart highlight the article's focus on whether ETF dividends are reinvested or remain as cash. Investors must understand how their payouts are handled. © Andrew Angelov / Shutterstock.com

US spot Ethereum (CRYPTO:ETH) ETFs took in $216 million on Friday, September 11, 2026, while US spot Bitcoin (CRYPTO:BTC) ETFs recorded a $13.29 million net outflow on their fourth straight outflow day. US spot XRP (CRYPTO:XRP) ETFs closed the session at $0.00 in net flows, per SoSoValue.

Each of the three reversed something it had been doing the week before, and they reversed in three different directions. So which of them says the most about where money is moving in crypto?

Ethereum’s $216 Million Reversed a $24 Million Outflow

A silver-colored Ethereum coin with a bright green center and logo is angled in the foreground. In the blurred dark background, an upward-sloping green graph line and various red and blue data indicators are visible on a digital screen, suggesting market activity.

Sergei Elagin / Shutterstock.com

A net flow is what remains after subtracting the day’s redemptions from the day’s creations, and a creation happens when an authorized participant hands the fund cash or the underlying coin and receives new shares in return. Trading between two investors doesn’t touch it.

Ethereum’s $216 million follows a $24 million outflow on September 9, so the category swung from redemptions to fresh buying inside a single week. Ether traded up 3% on the day, which puts spot demand and ETF demand on the same side going into the weekend.

Bitcoin ETFs Went From $986.9 Million In to Four Days Out

Golden Bitcoin coins are scattered in front of three wooden block letters spelling 'ETF' on a dark, reflective surface. The coins reflect on the surface below, creating a sense of depth and focus on the central Bitcoin coin displaying its 'B' logo.

24K-Production / Shutterstock.com

Bitcoin ETFs took in $986.9 million in the week ending September 4, then turned to four straight days of outflows ending with Friday’s $13.29 million redemption. A week of near-billion-dollar buying followed by a week of steady selling is a behavior change from the same firms, because the authorized participants creating and redeeming Bitcoin ETF shares are largely the same shops week to week.

The category remains about $1 billion short of break-even for 2026, so the strong August into early-September stretch fit inside a weak year. Bitcoin trades near $77,293.66, down 11.73% since January 1 and 33.48% over the past year. Buyers came back when the price rebounded in August, and they stepped away after the rebound stalled in the first week of September.

XRP Funds Traded $36 Million and Moved Nothing

ETF of the cryptocurrency XRP, Ripple.

TopMicrobialStock / Shutterstock.com

US spot XRP ETFs recorded $0.00 in net flows on September 11 while $36 million changed hands the same day, per SoSoValue. A zero day means either the creations and redemptions canceled to the dollar, which is rare, or neither happened. Cumulative net inflows stand at $1.70 billion against net assets of $1.45 billion, so the coin the funds hold is worth less than what came in, with XRP down 26.19% since January 1.

The $36 million counts every share that changed hands on the secondary market between one investor and another, while net flow counts only shares the fund created or redeemed with an authorized participant.

A holder can sell XRP ETF shares to another buyer all day and the fund’s coin holdings never change, because the shares move from one brokerage account to another. All of Friday’s activity was that kind, which is why no share was issued or retired. XRP funds are the newest of the three categories, and the market makers who service them haven’t built the constant two-way flow Bitcoin funds see every session.

Bitcoin’s Reversal Is the One to Watch

The same firms that bought through early September have now sold for four straight sessions. Bitcoin ETFs have taken in close to $52 billion since launch against XRP’s $1.70 billion, so a swing that fast moves far more money than either of the other two categories could. Ethereum’s day was the bigger move of the three, but it comes off a coin down 46.67% over the past year, so one session doesn’t turn that around.

A fifth day of Bitcoin ETF outflows would confirm the reversal, and a return to net creations would end it. Ethereum funds would need to repeat Friday’s size across another two sessions to show it wasn’t a one-off, and XRP funds would need a positive net flow of any size to prove the category can still absorb fresh money rather than recycle existing shares.

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Sam Daodu

Sam Daodu is a crypto analyst and the editor of 24/7 Wall St.'s Crypto Desk, where he covers Bitcoin, XRP, Ethereum, Solana and the altcoins investors search for most. His work focuses on price levels, spot ETF flows, on-chain data and the regulatory decisions that move crypto markets, written so a first-time buyer and a seasoned trader can both use it.
Sam has written about crypto professionally since 2019 and has published more than 2,000 articles. Before joining 24/7 Wall St., he wrote for crypto media outlets and Web3 companies and ghostwrote for crypto founders and token launches. His analysis is syndicated on Yahoo Finance, MSN and AOL and has been cited by other crypto news sites. He also founded MacLabs Marketing, a content and personal branding agency for crypto founders and executives.
When he isn't reading charts, Sam is usually at the gym or watching One Piece, a series he maintains has better tokenomics than most altcoins.

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