On September 2, the total holdings of bitcoin:native spot ETF recovered to 1,259,084.11 BTC, with a net increase of 1,637.20 BTC on that day, restoring part of the outflow from September 1, but the recovery strength is still not strong enough.
The single-day net outflow on September 1 was 3,153.48 BTC, and on September 2, this inflow only recouped about half, so the last two days appeared more like capital being pulled back and forth at a high level, rather than returning to the kind of continuous and stable increase seen at the end of August.
In the first three trading days of this week, the cumulative net increase was 1,083.06 BTC, and in the last seven trading days, the cumulative net increase was 8,828.45 BTC, indicating that the short-term capital situation is still positive, but the advantage has significantly narrowed, and the strength cannot be compared to the last week of August.
From a structural perspective, the BTC capital inflow on September 2 was quite concentrated. The inflow of BTC that day was not a comprehensive rebound but mainly relied on a few products, especially supported by BlackRock.
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