BlackRock’s iShares Bitcoin Trust (IBIT) accumulated 1.97K BTC worth $166 million from Coinbase Prime, according to Ambcrypto, as U.S. spot Bitcoin ETFs extended their net inflow streak to six consecutive sessions between September 17 and 24, 2026. The funds pulled in roughly $2.8 billion over that stretch, per Ambcrypto. The buying continued even after Bitcoin dropped to $82K.
Both outlets tracking the flows agree on direction but differ on the length of the streak. Crypto.news, citing SoSoValue-linked data, reported a five-session run through September 23, with $346.98 million of net inflows that day and about $2.65 billion combined across the five sessions. Ambcrypto’s count includes September 24 trading as a sixth positive session.
Also read: Bitcoin Bounces From 21-Month Low, but Use Data Signals Caution: Was $57K the Bottom?
Key facts
- IBIT bought 1.97K BTC worth $166 million from Coinbase Prime, per Onchain Lens data cited by Ambcrypto.
- U.S. spot Bitcoin ETFs logged net inflows for six consecutive sessions between September 17 and 24, totaling about $2.8 billion, Ambcrypto reported.
- On September 24, WisdomTree’s BTCW was the only fund with outflows, at $4 million, per Ambcrypto.
- Crypto.news reported $346.98 million in net inflows on September 23, led by IBIT at $166.29 million, Fidelity’s FBTC at $143.24 million, Morgan Stanley’s MSBT at $32.41 million and ARK 21Shares’ ARKB at $5.04 million.
- Bitcoin’s Coinbase Premium Index has been negative for three straight days, near -0.02 at the time of Ambcrypto’s report.
Exchange supply and institutional split
Ambcrypto reported that exchange netflow has stayed negative for four consecutive days, overlapping with the ETF inflow run, as funds pulled supply off trading venues. Historically since ETFs launched in 2024, strong inflow periods have come before better price performance on Bitcoin charts, the outlet noted.
Institutional demand is not uniform. Ambcrypto attributed the negative Coinbase Premium Index to U.S. institutional investors who remain cautious, with the majority still selling rather than buying. The outlet framed a positive premium alongside positive ETF flows as its condition for a genuine shift into a bullish phase, and said Bitcoin will keep swinging until both align.
Also read: BlackRock Prepares 1-for-3 Reverse Split for ETHA, Expands Staked Ether ETF Lineup
Whale wallets and leverage
Crypto.news, citing Santiment, reported that wallets holding 100 to 1,000 BTC added 113,950 BTC between July 15 and September 23, lifting their combined holdings 2.22% to roughly 5.24 million BTC. Santiment called the cohort one of the wallet tiers that has tracked crypto market direction most closely over its five-year analysis, though it cautioned that historical correlation does not prove causation and that one entity can control several addresses.
Derivatives positioning cooled over the same window. Crypto.news, citing CryptoQuant analyst Amr Taha, said Binance Bitcoin open interest fell from roughly $5.4 billion to $4.9 billion between September 21 and 23, a $500 million reduction equal to about 9.3% of outstanding positions, while cumulative volume delta dropped about 51%. The pullback from the $87,000 area was around 3.4% by Taha’s account.
Why it matters
ETF flows have become the clearest read on institutional appetite, and the six-day run shows buyers stepping in on dips rather than waiting for a breakout. That matters because the offsetting signal — a negative Coinbase Premium Index — points to U.S.-based institutions still treating rallies as exit opportunities. For readers holding Bitcoin exposure, the tension between ETF accumulation and cautious domestic institutions is what has kept price action choppy since the September 21 run to $87,392.
What to watch
The Coinbase Premium Index is the clearest near-term gauge: Ambcrypto’s bullish case requires the metric to turn positive while ETF inflows continue. Crypto.news also flagged Bitfinex’s buyer cost range of $85,000 to $86,500 and the firm’s note that a sustained move below $81,300, especially alongside ETF outflows, would challenge its breakout reading.
This article is not financial advice. Crypto markets are volatile and uncertain, and past flow patterns do not guarantee future price outcomes.
Reported by ambcrypto.com.
Sources: AMBCrypto, Crypto.news
