Spot Bitcoin ETFs in the US opened 2026 with a burst of cash that surprised some market watchers and encouraged others.
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According to Bloomberg’s senior ETF analyst Eric Balchunas, more than $1.2 billion flowed into these funds during the first two trading days of the year.
He estimated that if that pace continued, annual inflows could reach about $150 billion — about 600% more than the 2025 total.
The place where Bitcoin ETFs “come into 2026 like a lion,” Balchunas said.
ETF flows rise early
According to reports, almost every major place Bitcoin ETF saw money coming in during those opening sessions. Balchunas calls this influx a broad influx.
The WisdomTree Bitcoin Fund (BTCW) was one of the few exceptions that did not register the same demand. BlackRock’s iShares Bitcoin Trust (IBIT) is said to have taken over a large portion of the purchases last year.
The spot bitcoin ETFs are coming into 2026 like a lion, +$1.2 in flows in the first two days of the year while everyone eats. That’s a rate of $150 billion per year. I told you they can make $22 billion when it rains, imagine the sun shining. pic.twitter.com/YdRaLN0Op7
— Eric Balchunas (@EricBalchunas) January 6, 2026
Traditional measures fell short last year
Last year, spot Bitcoin ETFs recorded net inflows of over $21 billion. That was down from $35 billion in 2024. Still, Monday’s net inflow of $697 million was the largest daily inflow in three months, and it came as Bitcoin traded back above the low $90,000s. Trading volume increased and some positions that had bet on a price drop were closed, further amplifying the move.
Institutional moves and new registrations
Reports show Morgan Stanley Filed with the SEC to offer both Bitcoin and Solana ETFs, a move that puts a major asset manager alongside established issuers.
Balchunas pointed out that Morgan Stanley manages about $8 trillion in advisory assets and has already authorized its advisers to spend on such products.
The company’s proposed Bitcoin trust would, according to the filing, track the spot price and avoid leverage or derivatives.
How the flows influence the market
Analysts say demand for ETFs will likely absorb circulating Bitcoin supply. If this dynamic continues, it could change the amount of liquidity available to traders and reduce the amount of BTC offered on exchanges.
There was an early sign of disparity: Preliminary figures showed large outflows from one Fidelity fund on Tuesday, raising the likelihood of a net outflow for the day once all the data was in.
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Bitcoin Price Amid Geopolitical Noise
Meanwhile, Bitcoin’s price held steady geopolitical headlines involving Venezuela and the capture of its leader, Nicolas Maduro, by US special forces. The top crypto asset maintained its composure around the low $90,000s and climbed past $93,000 at times.
Traders and analysts pointed to liquidations of short positions and a rebound in other risky assets as reasons for the rise. Some on-chain observers pointed to accumulation by larger holders, while others said markets viewed the news as completed and not another shock.
Featured image from Unsplash, chart from TradingView