The U.S. spot Bitcoin ETF has recently sent a long-awaited signal to the market. In 2026, it recorded its first net inflows over five consecutive trading days. During this period, these products attracted approximately $767 million, marking a significant return of institutional demand for Bitcoin.
The awakening of inflows changes market sentiment
Most importantly, these five days of inflows broke the market's state of hesitation. Last Friday, the spot Bitcoin ETF recorded a net inflow of $180.33 million once again. Among this series, the best-performing trading day was Tuesday, with net inflows reaching $250.92 million. This phenomenon validates the coherence of the inflows, rather than just a one-off rebound.
It is also noteworthy that the Bitcoin ETF had a very strong start in January 2026 but subsequently lost momentum. Over the first two trading days of the year, inflows exceeded $1.2 billion. Therefore, the issue is not a lack of interest, but rather the sustainability of inflows, which this new cycle has restored.
The support for Bitcoin is not spectacular
What is interesting about this phase is that while capital has returned, the market remains cautious. This restraint indicates that institutional investors are not chasing short-term euphoria but are gradually rebuilding their exposure to this asset, which is still below its January peak and remains some distance from the record set in October 2025.
Overall, while there is support for Bitcoin from ETFs, it has not yet triggered a significant breakout. The market seems to view these inflows as a foundation rather than a decisive catalyst. This subtlety is noteworthy as it helps explain why prices remain firm without explosive movements.
Ethereum follows this trend, but Bitcoin remains dominant
Meanwhile, the spot Ethereum ETF has also regained momentum, recording inflows for four consecutive days, totaling approximately $212 million, with a daily peak of $115.85 million on Thursday. This indicates that the demand for compliant digital assets is warming up, not limited to Bitcoin.
However, the balance of power remains evident. The net assets of the Bitcoin ETF exceed $90 billion, far surpassing those of the Ethereum ETF. The message from the market is clear: when large capital seeks compliant crypto assets, Bitcoin remains the preferred entry point.
This hierarchy is no coincidence. It confirms that during uncertain times, Bitcoin continues to hold its position as a reference asset. While Ethereum has attracted some capital back, Bitcoin continues to concentrate the majority of market confidence.
Therefore, the signal worth paying attention to now is not just the inflow situation of the ETFs, but whether Bitcoin can convert these inflows into sustained breakthroughs of resistance levels. As long as this is not validated, the market's interpretation remains constructive but incomplete.