According to SoSoValue data, 12 spot Bitcoin ETFs recorded a combined net inflow of $116.96 million on September 10. This figure represents an increase of more than four times the $37.29 million entry recorded the previous day.

These two days of positive flows into Bitcoin ETFs followed eight days of back-to-back outflows, leading to a decrease in total assets under management of more than $1.18 billion. This shows that investors are repositioning while exiting crypto assets over a long period of time.

Fidelity’s FBTC maintained its lead for the second day in a row with $63.2 million inflows on September 10. Grayscale Bitcoin Mini Trust and ARK 21Shares’ ARKB recorded inflows of $41.1 million and $12.7 million respectively. The remaining nine Bitcoin ETFs remained neutral throughout the day.

Interestingly, no Bitcoin ETFs recorded outflows on the day, the first time this has happened since July 16. This recovery in Bitcoin ETFs may indicate that investors are regaining confidence, especially after prolonged outflows.

However, total daily trading volume dropped to $712.25 million on September 10, representing a 56% decrease from the $1.61 billion recorded the previous day. This decrease in volume may indicate a slowdown in short-term trading activity.

At press time, Bitcoin was trading at $56,276, down 1% in the last 24 hours. This decline in prices highlights the volatility of crypto markets despite high volume and positive inflows.

Spot Ether ETFs have also experienced a notable recovery. Nine spot Ether ETFs recorded a combined net inflow of $11.4 million on September 10, ending a five-day streak of outflows. The biggest contributor to the recovery in these ETFs was Fidelity’s FETH fund, with inflows of $7.1 million.

BlackRock’s ETHA fund also provided a significant additional inflow, recording an inflow of $4.3 million. The other seven Ether ETFs remained neutral throughout the day and did not record any flows.

Daily trading volume for Ether ETFs fell to $102.87 million on September 10, a significant decrease from the previous day. However, spot Ether ETFs experienced a total net outflow of $562.06 million for the year. As of press time, Ethereum was also trading at $2,326, down 0.8%.

Despite these positive inflows, there are signs that institutional interest in Ethereum-based products is starting to wane.

Recent developments include VanEck announcing that it is shutting down its Ethereum Strategy ETF after less than a year, and WisdomTree withdrawing its spot Ether ETF application with the U.S. Securities and Exchange Commission (SEC).

These developments indicate that institutional demand for Ethereum may decrease and investors may reconsider their future strategies.