00:00 Speaker A
The big first story today is this one that I mentioned at the top. US Bitcoin ETFs report the largest inflow day since January worth 731 million.
00:09 Speaker A
Now, usually when we’re talking about what’s signal and what’s noise, we don’t talk too deeply about the daily ETF inflows and outflows because it did generally gets washed away in the news cycle and inflows obviously can reverse to outflows at any point.
00:26 Speaker A
But when you have the largest day here in September, uh basically of the entire year since January, it’s worth noting, almost a billion dollars in inflows into the Bitcoin spot ETFs.
00:41 Speaker A
Now to break out down how that happened. IBIT, of course from BlackRock had 454 million of those, but six other funds also had inflows.
00:53 Speaker A
Now, this is coming in the first week of September, but as you know, because I reported before, August had approximately 3.5 billion dollars in inflows, strongest month since September 2025, and that was right before the October peak of the entire market.
01:16 Speaker A
So, this is a real trend that started in August when Bitcoin started to move up towards the end of the month, had actually started a bit before that, and is now carrying through into September.
01:29 Speaker A
Now, we all remember that it was the bond market that sparked this, the fact that Treasury announced that they were going to double their buybacks. That was the catalyst.
01:42 Speaker A
But now we’re weeks removed from that happening and prices are still high and inflows are still increasing, which means that there’s actually an institutional and retail bid underlying this price move, giving a lot more confidence that this is strong and that it could potentially be a lasting move.
02:04 Speaker A
Now, we we saw large inflows throughout most of the week, one days of outflows like I said, the daily doesn’t really matter. Right now the trend is clearly massive and in one direction and it’s supportive of this Bitcoin move.
02:22 Speaker A
Does that mean that we have to go straight up in a straight line to all-time highs? Of course not, but everybody wants to see massive spot and ETF buying of Bitcoin because that’s what it’s going to take to continue to push price up.