Ethereum leads cryptocurrency ETF inflows as Bitcoin, XRP and SOL lag

U. S. spot exchange-traded funds tied to major cryptocurrencies saw a marked shift in capital flows on 26 January 2026, with Ethereum-linked products attracting the largest net inflows while Bitcoin, XRP and Solana ETFs drew comparatively lower interest. Data compiled from fund-flow trackers and trading platforms shows the spot Ethereum ETFs posted approximately $117m of net inflows during the session, overturning a streak of prior redemptions, and underscoring selective institutional demand for Ether exposure through regulated vehicles.

The standout performance of Ethereum ETFs was driven in part by a dominant showing from Fidelity’s products, which recorded the bulk of the capital moving into Ether-based funds, snapping four days in a row of net outflows for the issuer. By contrast, BlackRock’s Bitcoin ETF recorded outflows on the day, highlighting diverging investor behaviour within the crypto ETF cohort and suggesting tactical repositioning among professional allocators.

Spot Bitcoin ETFs remain the largest by assets under management among crypto ETFs, but capital flows into these products have been uneven in January 2026. Mid-month saw weekly net inflows in the billions for Bitcoin spot funds, driven by broad institutional interest, but more concentrated selling pressure re-emerged approaching the final week of the month, with multiple days of net outflows recorded across prominent issuers. This pattern suggests profit-taking and risk reallocation rather than a wholesale withdrawal of institutional interest from the flagship crypto asset.

Beyond the largest two tokens by market capitalisation, products tracking XRP and Solana have also been in investors’ crosshairs. Spot XRP ETFs have accumulated over $1bn in inflows since their launch, marking them among the fastest to breach that threshold, but recent daily flows have varied widely. Solana spot funds, including Bitwise’s BSOL product, logged modest inflows on the same day that the broader market saw more significant moves into Ether, reflecting a niche but persistent appetite for SOL exposure via traditional financial channels.

Market participants point to the differentiated narratives surrounding these assets as a key reason for the flow dynamics. Ethereum’s dual role as a settlement layer for decentralised finance and tokenised real-world assets has bolstered its institutional appeal, while Bitcoin’s story as “digital gold” continues to attract conservative capital but offers less asymmetric upside for risk-taking allocators. XRP’s legal and regulatory narrative, which has evolved over the past year, also influences institutional positioning, even as volatility remains a factor in capital deployment decisions.

The broader ETF ecosystem in 2026 is shaped by regulatory clarity and expanding product suites, with issuers preparing for a crowded year of launches and competition for investor capital. Crypto ETF products now sit alongside traditional equity, bond and commodity funds in brokerage line-ups, underscoring their growing legitimacy in mainstream portfolios. However, warnings persist that not all funds may sustain long-term asset traction if they fail to differentiate or capture durable investor interest.

Price action in underlying crypto markets has interacted with ETF flows in complex ways. Bitcoin has traded below key psychological territory around $90,000, and Ether has exhibited relative strength, both of which have influenced short-term positioning and sentiment among institutional allocators. Market analytics show funding rates and derivatives positioning that point to balanced rather than extreme directional bias among traders, reinforcing the view that ETF flows reflect nuanced risk appetites and strategic rotations rather than sheer bullish or bearish sentiment alone.