Four U.S. sessions, 8 to 11 September. Spot bitcoin ETFs return $462.7 million. Ether ETFs, in the same window, take in $196.9 million. The figures come from Farside Investors, as reported by Cointelegraph.

This is not “the market flipping”. It is a flow, in funds that buy and sell the underlying. Bitcoin stopped attracting that week. Ether did not.

What left bitcoin

Withdrawals ran four days in a row. 10 September was the heavy day: $282.7 million, the largest since July. ARK 21Shares (ARKB) led the week, around $234 million. Grayscale (GBTC) followed, around $129 million. BlackRock (IBIT) and Fidelity (FBTC) were also in the red, smaller.

The run breaks three weeks of inflows. Between 19 August and 4 September the same funds had taken in about $3.34 billion, while bitcoin ran from about $62,000 to above $82,000. The outflow week comes after that run, not before.

What entered ether

U.S. ether ETFs were uneven day to day: outflows on the 8th and 10th, an inflow on the 9th. On 11 September, $216.4 million in one session, mainly BlackRock (ETHA) and Fidelity (FETH), turned the week. A fourth green week in a row, after an earlier break in the pace.

What September still holds

For September, bitcoin ETFs remain positive: about $307 million net through the 12th. One week of outflows does not erase the month. It says that, at these prices, institutional appetite for bitcoin cooled, while ether took the relay.

Bitcoin held near $78,000 on Monday the 14th, while tech stocks fell. Flows and the print are not the same hour. The Fed speaks on the 16th. The CLARITY vote is on the 15th. Neither is in last week’s Farside table.