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- US spot Bitcoin and Ether ETFs attracted $872.2 million as BTC topped $81,000 and ETH surpassed $2,500.
- The inflows strengthened the rally beyond short covering, while Bitcoin’s $730.8 million marked its third-largest daily inflow of 2026.
- Leverage remains elevated, leaving markets vulnerable if ETF demand reverses after recent swings in institutional positioning.
Bitcoin and Ethereum exchange-traded funds (ETFs) drew nearly $900 million as both cryptocurrencies pushed through closely watched price levels.
CryptoSlate data showed Bitcoin climbing above $81,000 and Ethereum topping $2,500 as fresh capital returned to US spot ETFs. Bitcoin funds attracted $730.8 million, their third-largest daily inflow of 2026, while Ethereum ETFs added another $141.4 million.
The simultaneous move marked a sharp return of institutional demand after several sessions of uneven flows and helped broaden a rally that had initially depended heavily on short sellers being forced out of positions.
BlackRock’s IBIT accounted for roughly $454 million of Bitcoin inflows, or about 62% of the group’s total. ARK 21Shares’ ARKB added $137.7 million, and Fidelity’s FBTC drew $74.4 million.
Ethereum ETF demand was similarly concentrated. BlackRock’s ETHA and Fidelity’s FETH attracted a combined $137.2 million, almost all of the category’s net inflow.
Simon-Peter Massabni, head of business development at XS.com, told CryptoSlate that flows of that size absorbed substantial sell orders and helped lift spot prices despite rising sovereign bond yields in the US and Japan.
Spot ETF demand spills into derivatives
Massabni argued that the stronger spot market quickly spilled into leveraged trading as Bitcoin pushed higher.
According to him, Bitcoin futures open interest climbed above $57 billion, its highest level since May, and more than $260 million of short positions were liquidated during the advance, making it the largest short squeeze since Aug. 21.
Those liquidations added momentum as traders betting against Bitcoin were forced to buy back positions. They also left leverage elevated, increasing the risk that a sudden reversal could trigger another round of forced selling.
However, the ETF flows offer a stronger demand signal than short covering alone, but recent sessions show how quickly institutional positioning can change.
Bitcoin ETFs swung from a $236.5 million outflow on Sept. 1 to a $101.1 million inflow the following day before Thursday’s $730.8 million surge. On the other hand, ETH funds had posted a $48.2 million outflow on Sept. 2, ending a 12-session inflow streak, before reversing sharply.
That leaves Sept. 3 as the strongest evidence yet that fresh capital is joining the rally, but not confirmation of a sustained accumulation cycle.
Continued ETF inflowswould give BTC and ETH a deeper pool of spot demand as leverage rebuilds. Another reversal would leave the latest surge looking more like another sharp swing in an increasingly volatile market.
Related AssetBitcoin#1BTC$78,945.1624-hour change: down1.65%Loading price history…24HDown1.65%7DDown0.78%30DUp22.47%Related AssetEthereumETH$2,442.4024-hour change: down1.48%Related CompanyBlackRockAmerican global investment management corporationRelated CompanyFidelityFinancial services companyRelated CompanyArk InvestPrecision lens on thematic investingRelated ProductiShares Bitcoin TrustBitcoin ETF by BlackRockRelated ProductiShares Ethereum Trust ETFEthereum ETF by BlackrockRelated ProductFidelity Ethereum FundEthereum ETF by Fidelity
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Source: cryptoslate.com