Overview

• U.S. spot bitcoin ETFs recorded about $301 million of net inflows on Sept. 3, while spot ether products saw $38.2 million in redemptions, extending a three‑day outflow streak.
• BlackRock’s ETHA accounted for roughly $151 million of ether outflows on the day, partly offset by inflows into Fidelity’s FETH, Grayscale’s spot ETH fund, and Bitwise’s ETHW.
• Prices remain range‑bound with bitcoin near $110,000–$112,000 and ether around $4,400, as altcoins have outperformed over the past month and bitcoin dominance has eased toward ~58%.
• August flows underscored the rotation: spot ETH ETFs took in roughly $3.9 billion versus about $750 million of net redemptions from U.S. spot bitcoin funds, with ETH ETFs now holding just over 6.3 million ETH (a little above 5% of supply).
• On‑chain and institutional data show sustained ETH accumulation by larger holders and treasuries, though near‑term risks persist with roughly $250 million in recent liquidations and traders watching U.S. labor data and Fed rate expectations.