The crypto ETF market moved broadly lower on September 11, with XRP and Solana products experiencing the sharpest declines, while Ethereum ETFs were comparatively resilient. Bitcoin ETFs fell roughly 1.5% on average, with major spot products such as IBIT, FBTC, GBTC, and ARKB declining around 1.3%–1.5%. Leveraged Bitcoin funds saw steeper losses, while the category recorded approximately $134.5 million in net daily outflows, reflecting some near-term investor caution. Despite the daily weakness, many Bitcoin ETFs remain up more than 20% over the past month, indicating that the broader recent trend remains positive.
Ethereum ETFs were the strongest area of the crypto ETF market, trading close to flat overall, with the category averaging a decline of only about 0.1% and generating approximately $24.6 million in net inflows. In contrast, XRP ETFs declined about 4.7% on average, with leveraged XRP products suffering the largest losses, although the category still attracted roughly $4.4 million in daily inflows. Solana ETFs also faced significant selling pressure, falling approximately 3.1% on average while recording about $11.2 million in net inflows. Overall, the session showed a clear divergence: prices weakened across most crypto-linked ETFs, particularly XRP and Solana, but continued inflows into Ethereum, XRP, and Solana products suggest investor demand remains present despite the short-term pullback.
From the evening of September 10 through the morning of September 11, the cryptocurrency market remained under pressure, with total market capitalization declining to approximately $2.72 trillion, down 1.0% as of 6:00 a.m. ET. Major Layer-1 cryptocurrencies were broadly lower, with Bitcoin falling 1.3% to $76,962, Solana declining 1.8% to $99.15, Cardano dropping 4.0%, and Avalanche losing 4.4%. Ethereum showed greater resilience, slipping only 0.1% to $2,466, while NEAR Protocol stood out as the primary gainer, rising 2.1% over 24 hours and more than 21% over seven days. Polkadot was nearly unchanged on the day but also maintained significant weekly strength, up approximately 25%.
The weakness extended beyond major cryptocurrencies, with several assets experiencing sharp declines. Zcash fell 10.0%, despite remaining up 9.3% for the week, while Bitcoin Cash dropped 8.9%, Pump.fun declined 7.6%, and Bittensor lost 7.2%. These moves continued much of the selling pressure seen during the September 10 evening session, when Bitcoin Cash, Zcash and Pump.fun were already among the market’s largest decliners.
Metaverse and DeFi assets were also mostly weaker. Internet Computer declined 0.6% but remained up 6.2% for the week, while Decentraland, Chiliz and Klaytn posted modest daily losses. Within DeFi, Chainlink fell 3.0% and Aave declined 1.3%, while Uniswap (+0.1%) and OKB (+0.4%) were among the few tokens to finish in positive territory. Overall, the September 11 update indicates a continued risk-off environment across the crypto market, with weakness concentrated in Bitcoin and several higher-volatility altcoins. However, strong weekly performances from assets such as NEAR and Polkadot show that pockets of momentum remain despite the broader market decline.
