Bitcoin exchange-traded funds (ETFs) have had a unstable begin to 2026, with sharp swings in investor demand at the same time as cash pours into conventional ETFs at an unusually quick tempo.
US-listed spot Bitcoin (BTC) ETFs pulled in $753 million on Tuesday of their second consecutive day of inflows after a four-day shedding streak, according to Farside Buyers information.
Bitcoin ETFs have raked in a complete of $660 million in web inflows to date in 2026 as demand for the funds continued to fluctuate.
Conventional ETFs, alternatively, attracted $46 billion within the first six days of 2026, in an “abnormally excessive to begin the yr,” based on Bloomberg ETF analyst Eric Balchunas.
“ETFs have taken in $46b in first 6 days of yr, which is abnormally excessive to begin yr, on tempo for $158b for month, about 4x the norm,” wrote the analyst in a Monday X submit.
The divergence reveals that ETF traders are actively deploying capital, however want allocating to funds tied to conventional investments as an alternative of crypto ETFs with a better perceived threat profile.
Demand for Bitcoin ETFs has declined prior to now six months, from $6 billion in month-to-month web inflows in July 2025 to $1.09 billion in outflows throughout December, according to SoSoValue.
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different crypto funds, spot Ether (ETH) pulled in $130 million on Tuesday, reaching $240 million in complete inflows to date in 2026, according to Farside Buyers.
Spot Solana (SOL) ETFs continued their uninterrupted successful streak, recording $67 million in web constructive inflows for the reason that begin of the yr.
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Bitcoin treasury companies step in to fill demand hole
Whereas the shortage of ETF demand is a regarding signal for Bitcoin’s value, blockchain information means that Bitcoin treasury companies are stepping in to fill this hole by means of regular month-to-month accumulation.
Corporate digital asset treasuries (DATs) added a web 260,000 Bitcoin to their stability sheets over the previous six months, outpacing the estimated 82,000 cash mined over the identical interval.
This equates to month-to-month company investments of round 260,000 BTC, value roughly $25 billion, based on crypto analytics platform Glassnode.
In distinction to public treasury firms, the trade’s main merchants by returns, tracked as “sensible cash,” had been nonetheless betting on Bitcoin’s decline, with $122 million of web quick positions, according to crypto intelligence platform Nansen.
Nevertheless, the cohort was web quick and betting on the decline of most high cryptocurrencies, with the exceptions of Ether, XRP (XRP), the memecoin launchpad Pump.enjoyable’s (PUMP) token, and Zcash (ZEC).
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