Bitcoin surpasses $87,000 as spot ETFs see $618 million inflow

Bitcoin climbed above $87,000, marking an eight-month high, as U.S. spot Bitcoin ETFs recorded a net inflow of approximately $617.6 million on September 21, marking three consecutive days of inflows totaling $1.21 billion. Despite the price reaching the institutional cost basis range of $85,600–$86,000, data shows no mass redemption, suggesting new institutional demand. Meanwhile, Bitcoin futures open interest has surged by over $2 billion to exceed $31 billion, indicating increased leverage in the market. BlackRock's IBIT and Fidelity's FBTC continue to increase their holdings.