ESP32C3 always enters download mode on cold boot

I have the XIAO ESP32C3 and see a strange issue where the ESP is stuck on “waiting for download” on cold boot.

When I press the RST button, the code starts fine.

I’m getting a boot:0x0 on serial output so it looks like the strapping pins are read as low. I cannot understand that since I don’t have nothing connected on GPIO8 or 9 and according to the documentation GPIO9 is using an internal weak pull-up.

I’ve seen this similar issue someone had where they were given the suggestion to remove the C15 parallel to boot switch (as far as I read the schematic). Obviously something I cannot do - because I cannot even see that on on the XIAO board.

Any suggestions on why the strapping pins are read as low on cold boot but fine on resets afterwards?

Thanks already,
Michael