Bitcoin ETF Inflows Drop 76% Ahead of Labor Day, Only BlackRock and Fidelity See Gains

US spot Bitcoin exchange-traded funds recorded net inflows of $174.6 million on September 4, 2026, marking a 76.1% decrease from the previous day’s inflow of $730.8 million. The data from Farside Investors indicates that only BlackRock's iShares Bitcoin Trust ETF (IBIT) and Fidelity's Wise Origin Bitcoin Fund (FBTC) attracted positive net flows.

On Friday, positive inflows were limited to these two funds, with IBIT recording $117.4 million and FBTC bringing in $57.2 million. In contrast, the remaining ten tracked funds reported zero net flows, indicating a slowdown in investment activity rather than outright withdrawals.

The decline in inflows follows a surge in Bitcoin and Ethereum ETF investments in the preceding session. The previous day saw seven of the twelve tracked funds reporting positive inflows, but by Friday, only IBIT and FBTC remained in the positive.

As the markets closed for Labor Day on September 7, the next scheduled trading session will be on September 8. The holiday break does not affect global Bitcoin trading, which continues outside of stock-market hours.

The recent figures do not provide insights into the specific investors behind the flows or the factors contributing to the slowdown. The upcoming session will reveal whether the trend of inflows will expand beyond BlackRock and Fidelity.

New Insights on Bitcoin and Macro Factors

• Bitcoin's recent rally was triggered by the Treasury Department's announcement on August 19 to double the maximum size of certain buyback operations for government bonds, increasing the cap from $2 billion to $4 billion per operation, effective September 9.
• The Federal Reserve's July meeting minutes revealed that three members voted for a quarter-point rate increase, indicating a potential shift in monetary policy if inflation does not decrease.
• The 30-year Treasury yield fluctuated from 5.28% on August 18 to 5.19% on the announcement day, before returning to 5.27% by September 2, reflecting market reactions to the Treasury's buyback announcement.
• During the July meeting, nominal Treasury yields increased by 25 to 30 basis points, primarily driven by higher real rates, while inflation expectations remained relatively stable.
• The Treasury expects to undertake $739 billion of privately held net marketable borrowing from July through September, followed by $628 billion from October through December, indicating a significant volume of securities to be managed.
• The Treasury's buyback operations are designed to facilitate easier trading of older bonds without reducing the overall supply of federal obligations, contrasting with the effects of quantitative easing by the Federal Reserve.