Bitcoin ETFs Make Waves: $1.2 Billion in Flows During First 48 Hours

Bitcoin ETFs Make Waves: $1.2 Billion in Flows During First 48 Hours—Analyst Insights

Bitcoin exchange-traded funds (ETFs) in the US have kicked off 2026 with a remarkable influx of capital, surprising many analysts and boosting market enthusiasm. According to Eric Balchunas, a senior ETF analyst at Bloomberg, over $1.2 billion was injected into these funds in the first two days of trading this year. He projects that if this trend continues, annual inflows could potentially reach around $150 billion, marking a staggering 600% increase compared to the total for 2025.

Key Takeaways

Bitcoin ETFs in the US saw an impressive $1.2 billion influx in the first two days of 2026.
Annual inflows could reach $150 billion if this trend continues, significantly surpassing 2025 figures.
Most major Bitcoin ETFs experienced substantial demand, with exceptions like the WisdomTree Bitcoin Fund.
Morgan Stanley is entering the Bitcoin ETF space with plans for a trust that tracks the spot price.
Analysts predict that sustained ETF demand could affect Bitcoin liquidity on exchanges.

Bitcoin

“The spot Bitcoin ETFs are making a powerful entry into 2026,” Balchunas remarked.

Initial Surge in ETF Flows

Reports indicate that nearly all major spot Bitcoin ETFs experienced significant inflows during the initial trading sessions. Balchunas referred to this activity as widespread and robust. However, the WisdomTree Bitcoin Fund (BTCW) stood out as one of the few exceptions, showing lower levels of demand. Notably, BlackRock’s iShares Bitcoin Trust (IBIT) captured a substantial share of last year's investments.

“The spot Bitcoin ETFs are coming into 2026 like a lion, with over $1.2 billion in inflows in the first two days of the year, while everyone is benefiting. This sets a pace for $150 billion annually. If they could attract $22 billion during tough times, imagine the potential when conditions improve,” Balchunas tweeted on January 6, 2026.

ETF Flows

Last Year’s Performance Was Below Expectations

In 2025, spot Bitcoin ETFs saw net inflows surpassing $21 billion, which was a decrease from $35 billion in 2024. However, a significant single-day net inflow of $697 million reported on Monday was the largest in three months, occurring as Bitcoin traded above the low $90,000s. Increased trading volume and the closure of positions betting on a price drop contributed to this rise.

In another development, Morgan Stanley recently filed with the SEC to introduce Bitcoin and Solana ETFs, positioning itself alongside established market players. Balchunas noted that Morgan Stanley manages approximately $8 trillion in advisory assets and has already authorized its advisors to invest in such products. The proposed Bitcoin trust aims to track the spot price without relying on leverage or derivatives.

BTC Chart

Currently, BTC/USD is trading around $92,725 according to TradingView. Analysts suggest that sustained ETF demand could absorb some of the circulating Bitcoin supply, potentially altering market liquidity and decreasing the amount available for trading on exchanges.

However, early indications of volatility surfaced, as preliminary data indicated a significant outflow from a Fidelity fund, raising concerns about a possible net outflow by the end of the day once all data is compiled.

Meanwhile, Bitcoin has remained relatively stable amidst geopolitical concerns regarding Venezuela following the capture of its leader, Nicolas Maduro, by US special forces. The top cryptocurrency maintained its footing around the low $90,000s and occasionally pushed past $93,000.

Market participants suggested that the recent price increase was buoyed by liquidations of short positions and a rebound across various risk assets. Some analysts noted an accumulation trend among larger holders, while others observed that the markets seemed to be reacting to the news as if it were a concluded event rather than a new crisis.

Featured image from Unsplash, chart from TradingView