US Bitcoin ETFs Log $731 Million, Largest Inflow Day Since January

• US spot bitcoin ETFs recorded about $731 million in net inflows on Thursday, Sept. 3, the largest single session since mid-January.
• BlackRock’s IBIT accounted for roughly $454 million, or more than 60% of the day’s total.
• Combined net assets crossed $103.34 billion for the first time, equal to about 6.32% of bitcoin’s market cap.
• The surge followed Fed Governor Christopher Waller’s comments that he could support holding rates at the Sept. 15-16 FOMC meeting if incoming data hold.
• The same complex posted a $236.5 million outflow on Tuesday, underscoring how quickly flows can reverse ahead of August CPI and the jobs report.

US spot bitcoin exchange-traded funds posted their largest one-day intake since January after Federal Reserve Governor Christopher Waller said he could back leaving rates unchanged this month, pulling in $730.8 million on Thursday, according to Farside Investors.

The print is in line with SoSoValue data showing a $730.87 million net inflow as of Sept. 3. That reversed a $236.5 million outflow on Sept. 1 and built on a $101.1 million inflow on Sept. 2. Combined net assets of the US spot suite rose to $103.34 billion, crossing the $103 billion mark for the first time and representing about 6.32% of bitcoin’s market capitalization. Cumulative net inflows since the January 2024 launches stand near $55.44 billion.

BlackRock’s iShares Bitcoin Trust (IBIT) dominated the session with $454 million of creations, lifting its net assets to about $63.89 billion. ARK 21Shares’ ARKB added $137.7 million, Fidelity’s FBTC took in $74.4 million, and Grayscale’s mini BTC product added $48.8 million. VanEck’s HODL and WisdomTree’s BTCW were the only funds to post outflows, of $19.6 million and $5.2 million, respectively.

The flow spike landed as bitcoin reclaimed the $80,000 area and traded back above $81,000 as traders cut bets on a September rate increase. In a Sept. 3 Reuters NEXT interview, Waller said: “If this continues in the data due over the next two weeks, I would be inclined to support holding the target for the federal funds rate at its current setting.” He also left a hike on the table, adding that “if the incoming data for August show this improvement has been fleeting, then it may be appropriate to raise the policy rate when the FOMC meets on September 15 and 16.”

Waller tied that choice to inflation still running above target. He said PCE prices are up 3.7% over 12 months and core PCE is 3.3%, with three-month core inflation at 3.05% through July. “So my decision on the appropriate stance of policy will be heavily influenced by what we learn about August inflation,” he said in the prepared remarks.

That calendar now sits over the ETF complex. Thursday’s creations followed August’s strongest monthly intake in nearly a year, previously cited near $3.5 billion, but the week opened with a sizable redemption. Investors watching IBIT’s share of flows will also watch whether creations persist after the jobs report and Aug. 11 CPI print reset rate odds again. A single strong inflow day does not lock in a trend if policy expectations snap back.