Fed Minutes Show Majority Back Another 2025 Hike; BTC Spot ETFs Took In $2.6B in September

The sequencing is the story: ETF inflows accelerated after the hike rather than stalling on it, which suggests the September decision was read as a clearing event rather than a tightening shock. The split that matters is between a Fed majority still leaning toward another move and crypto allocators treating rate risk as already priced. Whether that divergence persists into the next FOMC meeting — and whether the inflow pace holds without a fresh catalyst — is the open question.