US spot Bitcoin ETFs took in a record net $998.95 million on September 21, led by BlackRock and Fidelity, which is the largest single-day figure the products have recorded. That buying hit a market positioned short and produced $648 million in short liquidations, amplifying the move to $87,395, the highest level since January 2026. Spot demand through regulated products behaves differently from leverage-driven moves, since creation baskets require someone to actually buy and hold the underlying.