On August 31, the total holdings of spot ETFs rose to 1,260,600.84 BTC, with a net increase of 2,599.33 BTC on that day. On August 28, there was a net reduction of 2,574.16 BTC, but by the next trading day, it turned positive again, basically making up for all the holdings reduced on the previous trading day. Therefore, there are currently no signs of continuous withdrawals of funds from BTC ETFs.

In the last 7 trading days, there has been a cumulative net increase of 18,341.72 BTC, and since August, there has been a cumulative increase of 47,887.23 BTC, an increase of 3.95%, indicating that the trend of replenishment over the past month is still continuing.

What needs to be observed for BTC now is whether it can maintain consistent inflows after turning positive again. Because from a longer-term perspective, since 2026, total holdings have decreased by 37,366.10 BTC, a decrease of 2.88%. Therefore, the rise in August is more about repairing the previous losses in holdings.

If there continues to be a net increase in the following days, the funding of BTC ETFs will have the chance to gradually transform from "replenishment" to true expansion; if it turns negative again quickly, then this recent round of funding improvement can still only be seen as a phase of repair.

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