U.S. spot Bitcoin ETFs attracted roughly $697 million in net inflows on January 5, their largest single-day total since the October 2025 market downturn, as institutional demand returned to the market.
Bitcoin traded near $93,800 during the session and briefly touched a new 2026 high close to $94,000, showing resilience despite weak U.S. manufacturing data. BlackRock’s iShares Bitcoin Trust led inflows with about $372 million, followed by Fidelity’s FBTC at roughly $191 million.
The surge follows a quiet December, when inflows were recorded on only a few trading days as Bitcoin dipped toward $85,000. Analysts say the renewed ETF demand has coincided with improving risk appetite across crypto markets at the start of 2026.
However, some metrics suggest caution. While prices are rising, spot liquidity remains thin, and risk-adjusted performance has weakened. On-chain data shows limited panic selling, indicating consolidation rather than capitulation among holders.
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