The crypto market showed a mixed picture on September 18, 2026. Major cryptocurrencies rose, but some large crypto exchange-traded funds saw money leave. Ether and XRP were at the center of this unusual move.
U.S. spot Ether ETFs had about $39 million in net outflows on Thursday, according to SoSoValue data cited by CoinDesk. This was the third straight day of withdrawals from Ether funds. On Wednesday, about $224 million left these funds. On Tuesday, the amount was about $141 million.
The ETF data came at a time when Ether itself moved higher. Ether rose about 2% to around $2,470 over the same period. This means the price of the asset rose even as investors took money out of its U.S. spot ETF products.
The same pattern appeared in XRP funds, although the size was much smaller. XRP ETFs lost about $5 million on Thursday. This reversed a small inflow from the previous day.
At the same time, Bitcoin ETFs saw about $159 million in net inflows. The contrast between Bitcoin and the other large crypto funds gives a useful view of where investor money went during the latest market move.
Ether ETFs Face a Third Day of Outflows
The most notable part of the data was the continued loss of money from Ether ETFs.
The latest withdrawal of about $39 million came after two much larger outflow sessions. About $224 million left Ether ETFs on Wednesday, while about $141 million left on Tuesday. Across those three sessions, the total outflow reached about $404 million.
Despite that, Ether rose about 2% to around $2,470.
This shows that ETF flows do not always move in the same direction as the price of the underlying asset. An asset can rise even when some investors take money out of a particular investment product.
There can be many reasons for this. Investors may hold Ether directly, use other funds, or sell one ETF while buying another type of crypto product. The ETF figures therefore give one part of the market picture rather than the full story.
The longer view also remains less negative than the latest three sessions. Over 30 days, Ether funds still had more than $1.5 billion in net inflows.
XRP Funds Also Lose Money
XRP funds had a smaller setback on Thursday.
U.S. XRP ETFs lost about $5 million, according to the data cited by CoinDesk. This came after a small inflow on the previous day.
The size of the outflow was far below the amount seen in Ether funds. Still, the move matters because it shows that ETF demand was not equally strong across major crypto assets.
XRP itself rose about 2% during the market move. So, like Ether, the token gained value even as its related ETF products saw withdrawals.
This difference is important for people who follow crypto fund flows. A rise in the token price does not always mean that ETF demand is also strong on the same day.
Bitcoin ETFs Attract $159 Million
Bitcoin had a different result.
U.S. Bitcoin ETFs attracted about $159 million on Thursday. This gave Bitcoin a stronger ETF flow result than Ether and XRP during the same period.
Bitcoin itself rose more than 1% to about $77,216, according to CoinDesk data.
The 30-day picture also remains strong. Bitcoin funds had almost $2.5 billion in net inflows over the past 30 days.
The gap between Bitcoin and Ether ETF flows is worth watching. Both assets remain major parts of the crypto market, but investor demand through U.S. spot ETFs can change from one session to another.
The latest figures suggest that Bitcoin had more direct fund support on this particular day, while Ether faced another session of withdrawals.
Zcash Becomes a Major Story
Zcash had one of the strongest moves among major crypto assets.
Zcash rose about 10% to around $1,488. At the same time, its only U.S. fund attracted almost $47 million.
That was the fund’s strongest result yet for the month. Its total monthly inflows have now moved above $230 million.
This is notable because Zcash was able to attract money at a time when Ether ETFs faced another day of withdrawals. The market therefore did not show a simple move away from all crypto funds.
Instead, money appeared to shift toward different parts of the digital asset market.
CoinDesk noted that the Zcash fund has recently attracted money on days when the two largest crypto ETF categories, Bitcoin and Ether, have shown different flow patterns. The next set of data should show whether this trend lasts.
Solana and BNB Also Rise
Other major cryptocurrencies also had a strong session.
Solana gained about 5% to nearly $105. BNB rose almost 4% to around $750. Dogecoin added about 4%.
Hyperliquid’s HYPE token also moved higher by almost 10% to just above $86.
These moves show that the rise was not limited to Bitcoin and Ether. Several large digital assets posted gains at the same time.
Zcash led the major assets with its 10% rise. HYPE followed close behind with a gain of almost 10%. Solana had a 5% move, while BNB and Dogecoin each posted gains of about 4%.
Tron was the only major asset that showed almost no price change in the CoinDesk data.
Stocks and Bonds Also Gain
The crypto market did not move in isolation.
U.S. stocks and bonds also rose on Thursday. The S&P 500 gained about 1%, its biggest advance in six weeks. The Nasdaq 100 rose almost 2%, while a measure of chip stocks gained about 3%.
The U.S. 10-year Treasury yield also fell. This ended an eight-day streak of higher yields.
Gold rose as well, while the dollar was little changed. Brent crude oil settled below $105 per barrel.
The fall in oil prices helped reduce some concern about inflation. This came only one day after the Federal Reserve raised interest rates for the first time since 2023.
The market reaction suggests that lower oil prices helped offset some of the pressure from the Fed’s rate decision. Crypto prices moved in the same general direction as stocks and bonds during the session.
Why Oil Prices Matter
Oil prices have a direct link to inflation.
When oil becomes more expensive, transport and energy costs can rise. That can place more pressure on consumer prices. If inflation stays high, central banks may keep interest rates higher for longer.
The reverse can also help markets. A fall in oil prices can reduce some inflation pressure. That can support stocks, bonds and other assets that tend to react to interest-rate expectations.
This appears to have helped the broader market on Thursday.
Crypto has become more connected to traditional financial markets in recent years. Large Bitcoin and Ether funds have also made it easier for traditional investors to gain exposure to digital assets.
As a result, macroeconomic news can have a direct effect on crypto prices and fund flows.
Ether Price Holds Up Despite ETF Pressure
The strongest contrast from the latest data is the gap between Ether’s price and its ETF flows.
Ether gained about 2% to around $2,470, yet its spot ETFs lost about $39 million on Thursday.
The three-day outflow total was about $404 million, based on the reported $141 million loss on Tuesday, $224 million on Wednesday and $39 million on Thursday.
Yet the 30-day figure remains positive by more than $1.5 billion.
This suggests that a short period of withdrawals does not erase the longer-term demand for Ether funds. It also shows why one day’s ETF data should not be treated as a complete measure of investor sentiment.
What the Latest Data Shows
The September 18 crypto market had several different stories at once.
Bitcoin rose above $77,000 and its U.S. spot ETFs received about $159 million. Ether also rose, but its ETFs lost about $39 million for a third straight day. XRP gained about 2%, while its funds lost about $5 million.
Zcash stood out with a 10% rise to about $1,488, while its sole U.S. fund received almost $47 million. Its monthly fund inflows have now passed $230 million.
Solana rose about 5% to nearly $105, BNB gained almost 4% to around $750, and Dogecoin rose about 4%. HYPE moved almost 10% higher to just above $86.
The wider market also had support from stocks, bonds and lower oil prices after the Federal Reserve raised rates.
The latest numbers show that crypto demand is not moving as one group. Bitcoin, Ether, XRP and Zcash each had a different ETF flow result, even as their prices moved higher.
For Ether and XRP, the key point is that price gains came despite fresh ETF outflows. For Bitcoin, fund demand was positive. For Zcash, both price and fund flows showed strong gains.
The next few sessions should provide more clues about whether these are short-term shifts or the start of a wider change in crypto fund demand.
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