by Enoch Mwathwa
U.S. spot Bitcoin ETFs have staged a strong comeback at the start of the year, recording their best weekly performance since the October crypto market crash. The surge in inflows comes at a time when broader market sentiment has turned cautious, driven by rising trade tensions between the United States and the European Union and renewed volatility across risk assets.
Bitcoin ETFs Attract $1.4 Billion in Weekly Inflows
Bitcoin ETFs recorded $1.42 billion in net weekly inflows, according to data from SoSoValue, marking their strongest showing since October. The inflows highlight renewed investor interest in regulated Bitcoin exposure and build on the early momentum seen across crypto markets in 2026.
BlackRock dominated the week’s inflows, accounting for more than 71% of the total. Its IBIT fund alone attracted roughly $1.035 billion, despite market claims that institutional players had begun reducing Bitcoin exposure. Fidelity’s FBTC ranked second, posting $194 million in net inflows and reinforcing the view that large asset managers continue to play a central role in ETF demand.
As of press time, Bitcoin ETFs held a combined net asset value of $124.5 billion, with an asset ratio of 6.53%. The inflows coincided with Bitcoin’s price rally to nearly $98,000 during the week, a sharp rebound from levels below $90,000 at the start of the year. The price recovery fueled optimism among analysts, who began issuing renewed bullish forecasts.
However, Bitcoin failed to hold those highs as macro pressure resurfaced. Escalating trade tensions between the U.S. and the EU weighed on risk sentiment, triggering a sharp pullback in price and tempering expectations of a sustained rally. Ethereum ETFs also saw strong demand, recording $479 million in weekly inflows, led once again by BlackRock’s fund.
BTC Futures Open Interest Rebounds as Volatility Returns
Beyond ETF flows, Bitcoin futures data points to a gradual return of risk appetite. BTC futures open interest has risen by 12% since the start of the year, following a prolonged deleveraging phase that stretched from October through December.
CryptoQuant analyst DarkFrost noted that futures open interest dropped by 17.5% over the past three months after Bitcoin’s 36% price crash in October. Since then, the market has begun to stabilize. Open interest climbed from an eight-month low of $54 billion on January 1 to $61 billion by January 19, peaking at $66 billion on January 15.
DarkFrost said the recovery signals a cautious return of leveraged positioning. He warned that the rebound remains modest and depends on whether broader market conditions stabilize. With key global events approaching, analysts expect continued volatility and have flagged the risk of a short-term slowdown in Bitcoin ETF inflows if bearish pressure intensifies.
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