US spot Bitcoin ETFs attracted around $1 billion across three trading sessions from September 2 through September 4, even as Bitcoin struggled to establish itself above $80,000. The flows followed $236.5 million of net outflows on September 1 and comprised $101.1 million on September 2, $730.8 million on September 3 and $174.6 million on September 4. The September 3 inflow was the largest single-day inflow in months and coincided with Bitcoin’s recovery from around $77,000 toward $81,000 after Federal Reserve Governor Christopher Waller said policymakers could keep rates unchanged if inflation improved. BlackRock’s IBIT captured around $686.8 million, roughly two-thirds of the three-session total, followed by ARK 21Shares’ ARKB with around $137.7 million and Fidelity’s FBTC with approximately $131.6 million. Grayscale’s GBTC recorded around $48 million of net outflows. The data does not identify whether individual dollars came from institutions, advisers, family offices, retirement accounts, hedge funds or retail investors, but the scale and concentration suggest meaningful professional allocation. The inflows arrived as markets rapidly adjusted expectations for the Federal Reserve’s September 15–16 meeting. After an August employment report showed 162,000 jobs added and unemployment at 4.1%, markets returned to pricing roughly even odds, or slightly better, of a 25-basis-point rate hike. Despite that shift, ETFs still attracted $174.6 million on September 4, suggesting the demand was not solely a bet on lower rates. Bitcoin ETFs later recorded $46.6 million of net outflows on September 8, including a $65.5 million loss at GBTC, while IBIT gained $10.7 million. Bitcoin was trading around $79,000 on September 9 after briefly exceeding $82,000 the previous week. The divergence between substantial ETF demand and relatively restrained price performance may reflect selling by existing holders, miner distribution, derivatives hedging or broader macroeconomic caution. Oil prices had risen toward $100 a barrel amid escalating Middle East conflict, and inflation data due before the Fed meeting was identified as a key test. Cooler inflation could support a rate hold and help Bitcoin reclaim the low-$80,000 range, while hotter inflation could lift Treasury yields and test ETF demand. US spot Bitcoin ETFs attracted around $3.5 billion during August. Continued inflows through the inflation data and September Fed meeting would provide stronger evidence that investors are rebuilding Bitcoin exposure even under difficult monetary conditions.