U.S. Bitcoin spot ETF recorded a net inflow of approximately $730.9 million on September 3, marking the largest single-day capital attraction since January 14. The return of funds coincided with a rebound in risk appetite, and Bitcoin also returned above $80,000 on that day, briefly breaking through $81,000.
One-day inflow reaches a nearly eight-month high
In terms of capital distribution, Bitcoin Mini Trust under Grayscale had a net inflow of $48.8 million on that day, while GBTC had a net inflow of $8.2 million. Other funds also recorded small inflows. At the same time, HODL of VanEck experienced a net outflow of $19.6 million, and BTCW of WisdomTree had a net outflow of $5.2 million, which partially offset the overall inflow.
Overall, although there is still some capital withdrawal from individual products, mainstream funds have returned to Bitcoin ETF, indicating that institutional investment demand has recovered to some extent compared to earlier periods.
BTC once rose above $81,000
While the funds in ETF are warming up, the price of Bitcoin has clearly rebounded. At the time of this report, the price of BTC was $80,991, representing a 4.45% increase over 24 hours. Earlier in the trading session, Bitcoin pulled back from below $78,000 and briefly broke through $81,000.
Based on the data at that time, the total market value of Bitcoin was approximately 1.63 trillion US dollars, with a 24-hour trading volume of about 68.61 billion US dollars. The price and trading volume both strengthened simultaneously, reflecting a rebound in market activity.
Improving macroeconomic expectations drives risky assets
The report mentions that the expected improvement in the U.S. macroeconomic environment has boosted market sentiment towards risk assets. Analysts believe that the recent statements by Federal Reserve governor Christopher Waller are one of the catalytic factors; the expansion of the U.S. Treasury Department's repurchase program is also seen as one of the underlying factors for the rebound in the crypto market in August.
This round of substantial net inflow of ETF is seen by the market as another sign of a rebound in institutional demand. Whether funds will continue to flow in will determine whether Bitcoin can stabilize around $81,000.
