U.S. spot Bitcoin (BTC) ETFs drew $986.9 million last week for a third straight positive week, with BlackRock leading as institutional demand returned despite lower trading activity.
Key Points:
- Bitcoin ETF net inflows rose from $924.5 million to $986.9 million, with BlackRock’s IBIT taking $691.5 million.
- Spot Ethereum (ETH) ETFs added $218.4 million and also posted a third consecutive positive week.
- Bitcoin stayed near $80,000, while analysts said the next move may depend on incoming U.S. macro data.
Bitcoin ETF Flows
According to SoSoValue data U.S. spot Bitcoin ETFs collected $986.9 million in the week ended Sept. 4, up from $924.5 million one week earlier. The streak now spans three weeks.
BlackRock’s IBIT accounted for $691.5 million of the weekly total, making it the clear leader, while overall ETF trading volume fell to $14.5 billion from nearly $19 billion the previous week.
Spot Ethereum ETFs recorded $218.4 million in net inflows over the same period, extending their own positive streak to three weeks. Weekly trading volume dropped to $4.1 billion from $6.3 billion.
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John’s Macro Outlook
Dominick John, an analyst at Zeus Research, said sustained ETF inflows suggest institutions are “steadily rebuilding exposure to Bitcoin,” generating spot demand rather than leverage-led speculation. That makes the demand profile less dependent on derivatives.
Min Jung, a research associate at Presto Research, called the move a “catch-up trade” after crypto lagged other risk assets and said strong ETF inflows point to “renewed institutional demand.”
Bitcoin traded around $79,951 late Sunday after reaching roughly $81,700 last Thursday. “Holding $80,000 keeps the structure constructive,” John said, adding that the next move toward $82,000 to $85,000 would likely depend on macro data. Traders are watching Sept. 10 jobless claims and Sept. 11 CPI.
“A supportive macro backdrop could extend the rally, while a hotter inflation print would be the key downside risk,” Jung said.
The weekly inflows follow a strong August, when spot Bitcoin ETFs attracted $3.52 billion, their largest monthly net inflow since September 2025. Spot Ethereum ETFs added $1.85 billion in August, their strongest month since August 2025.
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