Bitcoin ETF Inflows Resume Sparking “Digital Gold” Narrative, Ether ETFs Bleed

Amid the broader crypto market correction, Bitcoin BTC $111 626 24h volatility: 2.8% Market cap: $2.22 T Vol. 24h: $46.14 B is once again emerging as a safe haven asset, regaining the “digital gold” narrative amid the global macro uncertainty.

Inflows into spot Bitcoin ETFs surged on September 2, recording a total of $332.7 million. On the other hand, Ethereum ETH $4 364 24h volatility: 1.7% Market cap: $526.92 B Vol. 24h: $32.42 B ETFs have seen outflows of $135 million on September 2.

The shift follows a strong August for Ethereum funds, which recorded $3.87 billion in inflows, while Bitcoin ETFs faced $751 million in outflows.

Fidelity Leads Bitcoin ETF Inflows

Fidelity’s Wise Origin Bitcoin Fund (FBTC) topped the inflow charts with $132.7 million, followed by BlackRock’s IBIT at $72.8 million.

Other major issuers, including Grayscale, Ark 21Shares, Bitwise, VanEck, and Invesco, also reported additional inflows, as per data from SoSoValue.

The latest uptick in spot Bitcoin ETF inflows coincides with the resurgence of Bitcoin’s “digital gold” narrative.

Crypto investment products saw a strong rebound last week, recording $2.48 billion in net inflows following $1.4 billion in outflows the week before.

Bitcoin price took a dive under $107,500, before recovering once again to $111,000, which is its 20-week simple moving average (SMA).

Bitcoin made it to the bull market support band a couple of days before September began, but regardless here we are

This is where the bulls would like to hold the line.

August formed a local high, September will likely form a local low.

Note that September 1st was already a… https://t.co/qcUYXpQl2X pic.twitter.com/ooMbDDdziQ

— Benjamin Cowen (@intocryptoverse) September 2, 2025

Spot Ethereum ETFs Are Bleeding

Ether ETFs experienced significant outflows, with Fidelity’s FETH leading the decline at $99.2 million, followed by Bitwise’s ETHW with $24.2 million. On August 29 alone, Ether ETFs recorded a total of $164 million in withdrawals.

These outflows come as Ethereum price has been under selling pressure, and is currently trading under $4,400.

Analyst Benjamin Cowen expects Ethereum to drop to its 21-week EMA within the next 4-6 weeks, after which it could rally to new all-time highs, with a final rotation into Bitcoin this cycle.

I think Ethereum will drop to its 21W EMA within the next 4-6 weeks (regardless of what Bitcoin does).

After Ethereum hits the 21W EMA, it should then rally to new All Time Highs.

I think we are about to witness the final rotation into Bitcoin this market cycle. pic.twitter.com/asBSYh6bB3

— Benjamin Cowen (@intocryptoverse) September 2, 2025

As shown in the image above, the ETH price could potentially drop to $3,400 by September-end. There’s a possibility for another 20% correction from here before ETH resumes its Q4 rally to new all-time highs.

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