Overview
- U.S. spot Bitcoin ETFs recorded about $301 million of net inflows on Sept. 3 as Ethereum products posted roughly $38 million of net outflows, marking a third consecutive day of ETH redemptions.
- Separate flow tallies for the latest session showed $332.8 million moving into BTC funds versus $135.3 million leaving ETH products, highlighting a near-term flip in demand.
- August closed with a clear split, with approximately $3.9 billion added to spot ETH ETFs and about $750 million redeemed from U.S. spot Bitcoin ETFs.
- On-chain activity points to ETH profit-taking and bearish positioning, including a whale depositing 7,500 ETH to Binance and a reported high-leverage short opened by another large holder.
- Spot ETFs now custody around 1.29 million BTC (roughly 6–7% of circulating supply) and just over 6.3 million ETH (a little above 5%), concentrating supply and amplifying the impact of creations and redemptions by large authorized participants.