US spot Bitcoin exchange-traded funds (ETFs) returned to positive territory on Sept. 2 after recording $101.1 million in net inflows. This happened as Bitcoin recovered from an intraday decline and climbed back above $77,700.
The latest flows were a sharp reversal from Sept. 1, when the funds suffered $236.5 million in combined net outflows. Although Wednesday's inflows did not fully offset those losses, the new buying suggests institutional demand stayed resilient after the start-of-month selloff.
Bitcoin ETF flows (Source: Farside Investors)
BlackRock's IBIT led the recovery with $115.4 million in net inflows. Bitwise's BITB added $4.2 million, while MSBT attracted another $7.3 million.
Grayscale's lower-fee BTC fund also posted $30.4 million in inflows. However, those gains were partially offset by $56.2 million leaving Grayscale's flagship GBTC. The remaining tracked funds recorded no net flows for the session.
Bitcoin Recovers From 24-Hour Lows
Bitcoin was trading at approximately $77,759 early Thursday, up 0.25% over the previous 24 hours. The cryptocurrency experienced more volatility beneath the relatively modest daily gain.
Bitcoin fell toward the mid-$76,000 range earlier in the session before recovering above $77,000 and subsequently pushing toward $78,000. BTC traded as high as roughly $77,900 during the recovery before settling near $77,759.
BTC’s price action over the past 24 hours (Source: CoinCodex)
The price action suggests buyers were willing to step in after the decline, while the return of positive ETF flows provided another indication of demand around current levels.
ETF flows have been particularly volatile heading into September. After attracting $216.7 million on Aug. 31, the funds swung to $236.5 million in outflows on Sept. 1 before rebounding with Wednesday's $101.1 million inflow.
For Bitcoin, the next test will be whether ETF demand can stay positive and help the cryptocurrency establish a firmer break above the $78,000 region. Continued inflows could support another attempt higher, while institutional selling could leave BTC vulnerable to another test of its recent lows.