American spot bitcoin exchange-traded funds registered their highest single-day net inflows since the middle of January on Thursday, propelled by growing optimism regarding a favorable macroeconomic climate.
Based on figures from SoSoValue, the products collected a combined net inflow of $730.9 million, primarily powered by roughly $454 million flowing into BlackRock’s IBIT. Six additional funds, including offerings from Fidelity and Grayscale, likewise recorded positive inflows.
Thursday’s total represents the largest net inflow session since January 14, following the ETFs’ strongest monthly performance since September 2025. Over the course of last month, the U.S. bitcoin vehicles accumulated an aggregate of $3.5 billion.
Rachael Lucas, a cryptocurrency analyst at BTC Markets, noted that the substantial volume of yesterday’s inflows suggests institutional investors are stepping up their bitcoin accumulation.
“The concentration in IBIT is the tell,” Lucas remarked. “That is the wrapper institutions use for size, which points to allocation flow rather than tactical positioning.”
Analysts pointed to remarks made earlier by Federal Reserve Governor Christopher Waller as a key macroeconomic catalyst. Although the U.S. Treasury Department’s announcement regarding an expanded buyback initiative sparked a crypto market recovery in mid-August, experts argued that the market required a supportive macroeconomic cue to achieve higher thresholds.
“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,” Jeff Mei, COO of BTSE, mentioned to The Block.
According to market data from The Block, Strategy shares climbed 17.6% to reach $144.80, Coinbase stock advanced 10% to settle at $192.70, and Circle finished Thursday up 16.5% at $103.23.
Keep eyes on macro
In the meantime, bitcoin climbed back above the $81,000 threshold late Thursday evening and presently changes hands near $80,950.
Given that macroeconomic indicators continue to drive current crypto market activity, upcoming commentary and reports will determine whether bitcoin maintains its upward momentum, according to analysts.
“Near-term, the risk is data. Jobs, then CPI,” Lucas stated. “Waller conditioned the dovish read on inflation cooling, so a hot print reverses the premise directly. 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.”
The BTC Markets analyst additionally pointed out that bitcoin’s 90-day correlation with gold climbed to a six-year peak exceeding 50%, whereas its correlation with the S&P 500 has dropped close to zero, potentially signaling that bitcoin is increasingly valued as an inflation hedge rather than a high-beta risk asset.
“If that holds, it changes how this flow should be read over months rather than days,” Lucas observed.
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Originally published at https://www.theblock.co/news/markets/2026-09-04-us-bitcoin-etfs-largest-inflow-day-since-january-413515.
