Crypto ETFs broadly declined on September 8, reflecting weakness across the major digital assets despite generally strong longer-term performance. Spot Bitcoin ETFs fell approximately 2.3%–2.7%, although most remained up about 24% over the past month and 25% over three months. Leveraged Bitcoin products posted steeper losses, with BITX and BITU declining roughly 4.8% and MAXI falling 5.6%. Bitcoin ETF flows remained strongly positive, led by $454.0 million into IBIT, $137.7 million into ARKB, $48.8 million into Grayscale’s Bitcoin Mini Trust and $24.8 million into BITB. HODL recorded the largest outflow at $19.6 million. Overall, the listed Bitcoin funds attracted approximately $665 million in net daily inflows, reinforcing IBIT’s position as the category’s dominant asset gatherer.
Ethereum ETFs declined roughly 2.4%–2.6%, while leveraged Ether products ETHU and ETHT fell 5.2% and 5.1%, respectively. Despite the daily weakness, spot Ethereum funds remained up approximately 31% over one month and 38% over three months. Flows were positive overall, with $97.5 million entering ETHU and $72.1 million going into ETHA, partly offset by a $6.1 million outflow from ETHE. XRP products dropped approximately 4.8%–5.0%, while their leveraged counterparts lost close to 10%; daily XRP ETF flows were nearly flat as inflows into XRPZ and XXRP were offset by a $4.2 million withdrawal from XRPR. Solana ETFs declined roughly 3.2%–3.7%, with leveraged funds down more than 7%, but the category retained strong one- and three-month gains of approximately 37% and 49%, respectively. Solana flows were modestly positive, led by $4.4 million into GSOL and $2.0 million into BSOL. Overall, the session showed broad price weakness and amplified losses in leveraged products, while substantial Bitcoin and Ethereum inflows suggested that investor demand remained resilient.
The cryptocurrency market traded lower early Tuesday, with total market capitalization declining 0.9% to $2.75 trillion as of 6:00 a.m. ET. Bitcoin fell 0.9% to $78,719, while Ethereum was nearly unchanged at $2,493. Performance across other major Layer-1 assets was mixed: Solana and XRP slipped 1.2% and 0.2%, respectively, while BNB gained 1.5%, Avalanche rose 2.2%, and Cardano advanced 0.8%.
Several altcoins continued to post strong weekly gains despite the broader market decline. Celestia led the session, climbing 12.1% and extending its seven-day gain to 32.6%, followed by Polkadot, up 10.6% on the day and 26.7% for the week. Worldcoin gained 5.8%, while Ondo rose 3.4%. In DeFi, Lighter jumped 9.0% and Uniswap advanced 2.3%, with UNI now up 25.5% over seven days. Metaverse-related tokens were also generally positive, led by Internet Computer’s 2.5% increase and 29.3% weekly gain.
Decliners included Bittensor, down 5.3%, Chainlink, off approximately 4.9%, and Zcash, which fell 3.9% despite remaining up 35.9% for the week. Ethena and Hyperliquid each declined 3.5%. Overall, the market showed a modest risk-off tone among larger cryptocurrencies, while selective altcoins maintained strong momentum and sizable weekly advances.
