Institutional investors directed $580 million into Bitcoin ETFs in a single session shortly before Federal Reserve Chair Kevin Warsh delivered a hawkish policy speech on August 28, 2026. The remarks focused on persistent inflationary pressures and what Warsh described as insufficient financial restrictions, sending Bitcoin down roughly 3% to 4% and prompting nearly $488 million in liquidations across the crypto market. The implied probability of a September rate hike rose from about 35% to approximately 60%, while Bitcoin fell from around $81,280 to roughly $76,909. The buying had extended across eight consecutive sessions, producing $2.8 billion in net inflows and lifting total Bitcoin ETF assets under management to $98.56 billion, or $1.44 billion below $100 billion. BlackRock's iShares Bitcoin Trust and Fidelity's Wise Origin Bitcoin Fund were the main vehicles attracting institutional capital, while authorized participants including Jane Street and Citadel handled ETF creation and redemption processes. Individual daily inflows reached $517 million and $562 million on separate days. Leveraged long positions accounted for most of the nearly $488 million in liquidations. The episode also drew attention because Warsh has publicly acknowledged holding stakes in Bitcoin-related entities, while spot ETFs have reduced custody, derivatives and regulatory frictions for institutional allocators.