Institutional capital flooded back into spot crypto markets on the first trading day of 2026, reversing weeks of tax-loss selling with a combined $646 million inflow across Bitcoin and Ether products.
The aggression of the bid signals a decisive “risk-on” shift among asset managers rebalancing for Q1. After ending 2025 with a $348 million outflow on New Year’s Eve, U.S. spot Bitcoin ETFs captured $471.3 million in new capital on Friday, January 2, according to data from Farside Investors.
BlackRock’s iShares Bitcoin Trust (IBIT) dominated the session, absorbing $287.4 million, nearly 61% of the day’s total volume. Fidelity’s FBTC followed with $88.1 million, while Bitwise (BITB) added $41.5 million. The buying pressure supported spot prices, with Bitcoin reclaiming the $91,000 level (+1.2%) after consolidating in the mid-$80,000s during the holiday lull.
The inflows mark the largest single-day capital injection for Bitcoin products in 35 trading days, effectively erasing the cautious positioning seen in December.
Ether’s Unexpected Reversal
While Bitcoin led in volume, Ethereum funds posted the more surprising structural shift. Spot Ether ETFs took in $174.5 million, ending a streak of bleeding assets. Most notably, Grayscale’s ETHE, historically a source of heavy sell-pressure due to high fees, recorded a rare net inflow of $53.7 million.
Grayscale’s Mini Trust followed closely with $50 million, while BlackRock’s ETHA attracted $46.6 million. The coordinated bid pushed Ether back above $3,100 (+3.3%), a psychological floor it had struggled to hold in late 2025.
The synchronized inflows suggest institutional allocators are treating the new tax year as a green light to re-enter positions liquidated in December for tax-harvesting purposes. With $646 million deployed in a single session, the market has erased the liquidity gap left by the holiday exit.
