Crypto investment funds took in $3.55 billion in the week after the Federal Reserve raised its benchmark rate by a quarter point to a range of 3.75% to 4.00% on September 16, the biggest weekly haul of 2026, according to data tracked by asset manager CoinShares. Bitcoin funds alone absorbed $2.52 billion. The timing is awkward: the money arrived the same week the CLARITY Act, a bill to set federal rules for crypto markets, died in the Senate on a 49-50 vote.
The Fed hike that wasn't supposed to help
Rate hikes are supposed to be bad for risk assets. This one wasn't, at least not for crypto funds. Bitcoin funds drew $2.52 billion, Ethereum funds added $702 million, Solana funds pulled in $193 million, and XRP funds took $92.3 million. US-listed products accounted for $3.43 billion of the total. US spot Bitcoin ETFs saw inflows on all five trading days of the week.
Traders now see less than a 40% chance of another hike in October, which may explain some of the appetite. The 10-year Treasury yield is sitting near 5.28%, and PCE inflation cooled to 3.4% in August. Friday's jobs report is the next big data point on the calendar.
A brutal week for the CLARITY Act
On September 15, the CLARITY Act failed by a single vote. Bitcoin dropped below $75,000 in the aftermath. Lawmakers are now drafting replacement legislation, but there's no timeline yet for when a new bill might reach the floor.
The fund flows suggest investors are looking past the legislative setback, at least for now. Or they're treating the dip as a buying opportunity. Either way, the money moved fast.
MicroStrategy keeps buying, and diluting
MicroStrategy, which holds 847,666 BTC, picked up another 1,666 BTC last week for $143 million. The company paid for part of the purchase by selling new shares of its stock, diluting existing MSTR holders. It's a familiar pattern for the firm, which has been funding Bitcoin buys with equity and debt for years.
Bitcoin trades near $84,236, up 1.37% over the past 24 hours, per BeInCrypto data. That's well above the sub-$75,000 level hit after the CLARITY vote.
Friday's jobs report could shift rate expectations one way or the other. If the labor market cools, the case for holding rates steady in October gets stronger. If it doesn't, traders may have to rethink that sub-40% probability. The replacement bills for the CLARITY Act are still being drafted, and there's no vote scheduled. For now, the flows are running hot, but the policy picture in Washington hasn't gotten any clearer.
