Cumulative net inflows into US spot Bitcoin ETFs have settled around $55 billion, below the roughly $63 billion peak reached in October 2025 but above a trough near $50 billion. Glassnode reported that approximately $3.8 billion entered the products over about three weeks in late August and early September 2026 before flows reversed into net redemptions, including outflows of $296 million on September 15 and $450 million on September 16. Eric Balchunas said the cumulative-flow measure excludes Bitcoin price changes, making it a measure of underlying investor demand; the products briefly held more than $101 billion in assets and collectively held around 649,000 BTC.