Bitcoin ETFs Record $731M Inflow Day, Biggest Since January

Federal Reserve Governor Christopher Waller said Sept. 3 that he is inclined to hold interest rates steady if inflation continues to cool—a comment that sent growth stocks and crypto assets higher. US spot Bitcoin (BTC) exchange-traded funds recorded $730.9 million in net inflows on the same day

BlackRock’s IBIT accounted for roughly $454 million of that total. Six other funds, including products from Fidelity and Grayscale, also posted net inflows. The combined figure is the largest single-day net inflow for US spot Bitcoin ETFs since Jan. 14.

Institutions Driving Size Into IBIT

Jeff Mei, COO of BTSE, said Waller’s comments functioned as a direct signal to markets. “Fed Governor Waller basically gave the market a green light; he said he’s inclined to hold rates steady if inflation keeps cooling, which sent growth stocks and crypto flying,” Mei told The Block.

Rachael Lucas, crypto analyst at BTC Markets, said the distribution of inflows points to institutional activity rather than retail positioning. “The concentration in IBIT is the tell,” Lucas said. “That is the wrapper institutions use for size, which points to allocation flow rather than tactical positioning.”

Sept. 3’s figure follows a strong August—the strongest month for US Bitcoin ETFs since September 2025. The funds attracted a combined $3.5 billion in net inflows during that month.

Crypto-related stocks also moved sharply on Sept. 3. Strategy rose 17.6% to $144.80, Circle ended the day up 16.5% at $103.23, and Coinbase gained 10% to $192.70. BTC returned above $81,000 late that evening, trading near $80,950.

Jobs Data and CPI Prints Could Reverse the Rally

Lucas said the next market-moving catalysts will be the upcoming jobs report and Consumer Price Index reading. “Waller conditioned the dovish read on inflation cooling, so a hot print reverses the premise directly,” she said. “September also carries a weak seasonal record. Those two prints plus the next few ETF sessions decide whether $81,000 is a floor or a fade.”

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She also noted that BTC’s 90-day correlation with gold has risen to a six-year high above 50%, while its correlation with the S&P 500 has fallen close to zero. Lucas said this may indicate that Bitcoin is being priced more as an inflation hedge than a high-risk growth asset. “If that holds, it changes how this flow should be read over months rather than days,” she said.

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