On September 8, bitcoin:native spot ETF total holdings rose to 1,270,006.86 BTC, with a net increase of 994.73 BTC on the day. Looking at the absolute value, this isn’t a particularly strong inflow, but the good news is that September 3, 4, and 8 have all seen positive net flows, indicating that after the back-and-forth at the start of September, funds are gradually flowing back in. Over the past seven days, there’s been a cumulative net increase of 9,432.26 BTC, and since the start of September, a total net increase of 9,406.02 BTC. This essentially shows that while the inflows since the beginning of September haven’t been explosive, the overall trend is still positive, and total holdings continue to hit new highs since this round of replenishment began. From a structural perspective, the capital distribution for BTC on September 8 was relatively healthy. On that day, 5 products saw net inflows, 2 saw net outflows, and 6 remained unchanged. This means BTC wasn’t propped up by a single product but rather saw multiple products contributing to the replenishment, though none of them were particularly large in scale. So, the current state of BTC can be understood as a positive shift in capital direction, but the momentum isn’t particularly strong—it’s more of a steady replenishment. @Gate Crypto, US stocks, Hong Kong stocks, Korean stocks, gold, CFD, prediction markets—all in one platform.