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BTC 
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SOL The Bitcoin Spot ETF started September strongly with a net inflow of nearly US$770 million
Between September 1 and September 4, the U.S. Bitcoin (BTC) Spot Exchange-Traded Funds (ETFs) attracted a net inflow of approximately US$770 million. Although Bitcoin prices briefly fell below the $80,000 mark, this strong inflow of funds laid a good foundation for market performance in September.
Overview of key data
- Initial net inflows: In the first four trading days of September, the Bitcoin Spot ETF recorded net purchases of approximately US$769.9 million.
- One-day peak: Net inflows reached US$730.8 million on September 3, setting the strongest one-day record since January 14, with BlackRock's IBIT fund contributing the main force.
- Price dynamics: Bitcoin then fell back to US$79,622.23, making US$80,000 a key support level, while ETF demand remained positive.
In-depth analysis of capital flows
Data shows that on September 1, Bitcoin spot ETF initially showed a net outflow of approximately US$236.5 million, but reversed the trend the next day and turned into a net inflow of US$101 million. This shift accelerated further on September 3.
On the day, various funds recorded a total net inflow of US$730.8 million, the strongest trading session since January 14. Specifically:
- BlackRock IBIT: attracted approximately US$454 million in funding.
- ARK21 Shares ARKB: followed closely, absorbing approximately US$137.7 million.
- Fidelity FBTC: Increase of US$74.4 million.
On September 4, another US$174.6 million entered relevant funds. Despite the withdrawal of funds on the first day and in contrast to Bitcoin's historically weak performance in September, the total net inflow over the four days still reached approximately $769.9 million.
Macroscopic Environment and Market Expectations
The surge in ETF demand is accompanied by changes in U.S. monetary policy expectations. "I tend to support maintaining the federal funds rate target at current levels," Fed Governor Christopher Waller said on September 3.
During this period, although Bitcoin prices rose, they failed to firmly stand above US$80,000. As of press time, Bitcoin was trading at US$79,622.23, down 2.1% within the day. The Relative Strength Index (RSI) remained above neutral levels and the width of the Bollinger Band widened, indicating increased market volatility.
Performance of Other Cryptocurrency ETFs
The demand for ETFs is not limited to Bitcoin. According to data from Farside Investors:
- Ethereum (ETH) Spot ETF: recorded a net inflow of US$8.6 million on September 1, which turned into a net outflow of US$48.2 million on September 2; subsequently, a net inflow of US$141.4 million was received again on September 3, and a net inflow of US$25.9 million was received on September 4.
- Solana (SOL) ETF: showed more mixed capital flows during the same period.
The overall model shows that although there has been no continuous breakthrough in the underlying token price, overall demand for cryptocurrency ETFs has increased as September begins.
Price Range Analysis
It is worth noting that Bitcoin has a relatively short period of time above US$70,000. MSB Intel data showed that of the 4,364 daily closing prices recorded, only 12.7% were above this level, highlighting the uniqueness of the current price range.
