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Pharaoh’s Market Watch BTC ETFs posted $3.8B in inflows over three weeks, but the momentum quickly reversed. On Sept. 8, ETFs recorded a $46.46M net outflow, while Sept. 1 saw a much larger $236M outflow. Despite the recent inflows, ETFs remain about $1B net negative YTD, with flows heavily concentrated in IBIT and FBTC. This looks more like sentiment recovery than a strong, broad trend. With U.S. CPI on Sept. 11 and the FOMC on Sept. 15–16, markets may stay cautious until the data lands.