U.S. Spot Bitcoin ETFs Post Record $3.08 Billion Nine-Day Inflow Streak Despite Fed Rate Hike

U.S. spot Bitcoin exchange-traded funds absorbed approximately $3.08 billion between Sept. 17 and Sept. 29, establishing the largest nine-day net inflow streak since the products launched in January 2024. The run eclipsed the roughly $3.04 billion accumulated during a similar nine-session stretch in August by about $33 million, signaling that institutional capital is returning to the asset class even as borrowing costs rise.

The momentum comes at a counterintuitive moment for risk assets. On Sept. 16, the Federal Reserve raised its benchmark interest rate by 25 basis points to a target range of 3.75% to 4%, marking the first rate hike since 2023. Markets had priced in a 93% probability of the increase beforehand. Higher rates typically drain liquidity from speculative investments by making safer yields more attractive, yet Bitcoin buyers moved aggressively in the opposite direction immediately after the decision landed.

Bitcoin had plunged to roughly $75,000 during the week of the Fed announcement, coinciding with $746 million in ETF outflows over just two trading sessions. The reversal began on Sept. 17 with $159.5 million in net purchases. Within 48 hours, Bitcoin reclaimed the $80,000 threshold. By Sept. 21, daily ETF inflows surged to $999 million, and the week ending Sept. 25 generated $2.4 billion — the strongest weekly accumulation since October 2025. That surge pushed the funds back into positive net flow territory for 2026.

Daily volumes have since moderated. The most recent session on Sept. 29 recorded $66.19 million in net inflows, a sharp deceleration from the near-billion-dollar peak earlier in the streak. Bitcoin traded near $84,400 on Wednesday, recovering roughly 1% on the day but remaining below its September high of approximately $87,350. The current price sits roughly one-third beneath the all-time high of $126,296 reached in October 2025.

The resilience of these flows reflects a structural shift in how traditional finance interacts with cryptocurrency. Unlike the retail-driven rallies of previous market cycles, spot Bitcoin ETFs — managed by firms including BlackRock, Fidelity, Ark Invest, and Grayscale — route capital through regulated brokerage accounts and custodial frameworks familiar to pension funds, registered investment advisors, and corporate treasuries. Since their SEC approval in early 2024, these vehicles have transformed ETF flow data into one of the most closely watched barometers of institutional sentiment in digital assets.

The macroeconomic environment supporting this rebound extends beyond the Fed’s policy pivot. On Aug. 19, the U.S. Treasury announced it would double its longer-dated bond buybacks to at least $4 billion per operation, a move designed to improve liquidity in the government debt market. Bitcoin reached $69,000 that day for the first time in two months, initiating the broader recovery that carried through August’s nine-day ETF inflow streak — a run widely credited with pulling the asset out of its prolonged bear market phase.

To match the longest consecutive inflow streak on record — 13 straight days set in June 2025 — the current run would need to sustain net positive flows through Monday, Oct. 5.