Bitcoin Spot ETF Bought 26 Times the Daily Mining Volume…Is It a Signal to Break $90,000?

Bitcoin Spot ETF Sees $998.95 Million Inflow in One Day… 'Sweeps Up' 26 Times the New Mining Volume

▲ Bitcoin (BTC) Exchange Traded Fund (ETF) ©Coinreaders

Bitcoin (BTC) spot ETFs recorded a maximum net inflow of $998.95 million in a single day in 2026. With daily ETF buying demand reaching approximately 26 times the new mining volume, Bitcoin broke through the $82,000-$83,000 resistance level and surged to $87,386 in eight months. However, the media cautioned that a sustained trend of institutional accumulation has not been confirmed by this record single-day inflow alone.

According to investment specialized media TradingNews on September 22 (local time), US Bitcoin spot ETFs recorded a net inflow of $998.95 million on the 21st. This is the largest inflow since October 6, 2025, when $1.2 billion flowed in, and the largest this year. BlackRock iShares Bitcoin Trust (IBIT) received $381.37 million, ARK 21Shares Bitcoin ETF (ARKB) received $289.12 million, and Fidelity Wise Origin Bitcoin Fund (FBTC) received $238.84 million. These three products accounted for 91% of the total inflow, and no product recorded a net outflow.

In particular, the scale of ETF purchases overwhelmed the new supply of Bitcoin. Calculating the Bitcoin price at approximately $86,000, the net inflow on this day was enough to purchase about 11,600 units. Considering that approximately 450 new Bitcoins are mined daily, ETF demand alone amounted to about 26 times the new supply. In addition, Strategy (MicroStrategy) additionally purchased 950 units for $75.7 million on the same day, and Strive additionally purchased 1,355 units for $107.7 million. The combined holdings of US Bitcoin spot ETFs and the largest corporate holder, Strategy, exceed 10% of the total Bitcoin supply.

BlackRock's influence also grew. IBIT's net assets reached $68.29 billion, accounting for 3.91% of Bitcoin's total market capitalization, and is estimated to hold approximately 794,000 units at current prices. The total net assets of US Bitcoin spot ETFs amounted to $110.14 billion, accounting for 6.3% of the market capitalization, with cumulative net inflows of $56.16 billion since their launch in January 2024. On the same day, Ethereum (ETH) spot ETFs also saw a net inflow of $269.98 million, bringing the combined daily inflow for Bitcoin and Ethereum spot ETFs to $1.269 billion.

The price also surged as ETF funds and short squeezes (buying pressure resulting from short position liquidations or covers) intertwined. Bitcoin broke through the $82,000-$83,000 resistance level and rose to $87,386.32 during intraday trading, marking its highest level since January 31. Out of the $503.18 million in Bitcoin position liquidations in the past 24 hours, short positions accounted for $448.96 million, or 89%. However, the Relative Strength Index (RSI) rose to 70-72, and the Fear & Greed Index to 71, indicating short-term overheating. The media suggested $90,000-$92,000 as the next resistance zone if $87,386 is surpassed, while viewing $82,000-$83,000 as a key support line.

However, further confirmation is needed to determine if institutional buying has solidified into a trend. From September 14-18, the cumulative net inflow for Bitcoin spot ETFs over five trading days was only approximately $6.1 million, with approximately $450 million and $295.9 million flowing out on the 15th and 16th, respectively. Subsequently, $159.5 million flowed in on the 17th, $433 million on the 18th, and $998.95 million on the 21st, expanding the inflow for three consecutive trading days to $1.591 billion. TradingNews presented continued inflows of over $300 million on the next trading day as a key criterion for trend confirmation.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*