Ether and XRP ETFs Lose Money Even as Crypto Prices Turn Higher

Crypto prices moved higher Thursday, but the money flowing through U.S. exchange-traded funds told a much less uniform story.

CoinDesk reported that U.S. spot Ether ETFs posted roughly $39 million in net outflows Thursday, marking a third consecutive day of withdrawals after investors pulled about $224 million Wednesday and $141 million Tuesday. XRP funds lost about $5 million after recording a small inflow the day before, interrupting their recent positive flow without establishing a multi-day reversal.

Bitcoin funds moved the other way, taking in approximately $159 million as the largest cryptocurrency traded above $77,000 and the broader market advanced.

That split matters because the underlying tokens did not follow the fund flows, creating a clear divide between ETF positioning and spot-market demand. Ether and XRP each gained about 2%, while Bitcoin rose more than 1% and traded above $77,000.

Investors buying the coins directly were willing to bid prices higher even while some ETF shareholders headed for the exits.

The Ether withdrawals followed roughly $224 million leaving Wednesday and $141 million Tuesday, bringing the three-session total to about $404 million. Even after that run, Ether funds remained more than $1.5 billion ahead over 30 days, while Bitcoin funds were nearly $2.5 billion ahead.

Zcash supplied the sharpest contrast: its lone U.S. fund attracted almost $47 million as the token gained about 10%. The wider rally unfolded alongside stronger stocks and bonds after falling oil prices eased immediate inflation pressure.

The latest session also looks different from the pressure that built before the Federal Reserve decision. Nearly $463 million in weekly Bitcoin ETF outflows had accumulated earlier in the week, making Thursday’s renewed Bitcoin inflow a meaningful change in direction.

US spot Bitcoin ETFs saw $462.7M in weekly outflows after drawing roughly $3.8B over three weeks.

Ecoinometrics says continued withdrawals would make $75,000 harder to hold. ETF flows after the Fed’s Sept. 16 decision will show whether withdrawals continue.…

— CryptoSlate (@CryptoSlate) September 14, 2026

Three days of Ether outflows do not erase the bigger trend.

Ether funds have now lost about $404 million across three sessions: approximately $141 million Tuesday, $224 million Wednesday and $39 million Thursday. That is a real pullback, but it is not the same thing as a wholesale institutional retreat.

Over the previous 30 days, the Ether products remained more than $1.5 billion in the black, according to the same reporting.

XRP’s one-day outflow deserves similar caution. A $5 million withdrawal can interrupt a streak without proving that demand has broken.

The more useful question is whether the next several sessions confirm the reversal or show that Thursday was ordinary portfolio rebalancing.

The broader tape was constructive. Solana gained about 5%, BNB nearly 4%, and Dogecoin around 4%.

Zcash led the group with a 10% advance as its U.S. fund attracted almost $47 million. Current market data also showed XRP maintaining a large-cap position with active trading volume.

That wider context is one reason a single fund-flow print should not be treated as a trend by itself.

Macro pressure eased enough for risk assets to breathe.

Falling oil prices helped ease immediate inflation fears after the Federal Reserve’s rate increase. Stocks and bonds rallied together, the 10-year Treasury yield snapped an eight-day climb, and crypto traded with that broader risk-on move.

CoinDesk’s market update earlier in the week captured how Bitcoin had already been holding near $78,000 despite pressure in Japanese equities and expectations for another Bank of Japan rate increase.

MACRO: The Bank of Japan is expected to hike rates to 1.25% this week, its highest since 1995, as $BTC holds near $78K despite the Nikkei losing 8.4% in a month. pic.twitter.com/ejEuWkAOyS

— CoinDesk (@CoinDesk) September 14, 2026

The clean takeaway is not that ETF demand suddenly stopped mattering. Thursday produced a divergence: fund shareholders reduced Ether and XRP exposure while spot buyers pushed both assets higher.

If that gap persists, it may reveal a rotation in how investors want their crypto exposure. If it closes quickly, the outflows will look more like a pause inside a still-positive monthly trend.

The next several daily flow reports should tell us which interpretation is right.

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