Spot Bitcoin and Ether ETFs in the USA gained $646 million in net inflows on the first day of trading in the new year, while the mood of the whole crypto market remained mixed. However, they started 2026 with a strong position.
Data from Farside show that spot Bitcoin ETFs took the lead in the gains by bringing in $471.3 million on Friday. After that, spot Ether ETFs attracted $174.5 million in net inflows, which resulted in total combined inflows of $645.8 million for both products.
The inflow was so high that it became the largest single-day inflow for US spot Bitcoin ETFs in 35 trading days and the strongest since Nov. 11, when a group of 11 ETFs had recorded $524 million in inflows.
Also, spot Ether ETFs set a significant record by registering their largest daily inflow in 15 trading days. The last time Ether ETFs had such a high figure was on December 9 when inflows hit $177.7 million.
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The data indicate that institutional investors have come back to the market at the beginning of the year, despite the uncertainties surrounding the crypto market.
Crypto Market Still Wary Despite ETF Activity
Cryptocurrency traders generally consider ETF inflows as the most important indicator of mainstream investors’ sentiment and sometimes even as a short-term price direction guide. Long-term demand is always interpreted as a sign of strength, while constant outflows are usually taken as a confirmation of the bearish sentiment.
Yet, Bitcoin and Ether prices have not been able to break free from the recent sell-off even with the increased ETF demand. In fact, the last 30 days have seen Bitcoin dropping by 1.56% and Ether by 1.39%. The wider decline started soon after Bitcoin hit its all-time-high of $125,100 on Oct. 5, followed days later by a widely reported $19 billion liquidation event on Oct. 10. Traders have, therefore, been more cautious since then.
This cautious mood is reflected in the sentiment indicators as well. The Crypto Fear & Greed Index, which measures the general mood in the market, has been fluctuating between “Fear” and “Extreme Fear” since the beginning of November. On Sunday, the index fell again into “Extreme Fear”, with a score of 25, which highlights the fact that there is still a lot of anxiety in the market.
