Crypto ETF flows rebound in January, JPMorgan says

JP Morgan analysts say that cryptocurrency ETF flows are stabilizing in January, following outflows in December.

The analysts, led by Nikolaos Panigirtzoglou, report that bitcoin and ether ETFs saw outflows last month, even as global equity ETFs recorded record inflows of US$235 billion.

Indicators such as ETF flows and positioning in perpetual futures markets now suggest that selling pressure in cryptocurrency may be easing.

JP Morgan cites the recent cryptocurrency market correction mainly to investor de-risking after MSCI’s October announcement about potential index exclusion, rather than to deteriorating market liquidity.

MSCI’s decision not to exclude bitcoin and cryptocurrency treasury companies from its February 2026 global equity benchmarks review could further support market stabilization, according to the analysts.

🔗 Source: The Block

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Bitcoin ETF flows swung in early January

JPMorgan said ETF flows are stabilizing. US spot Bitcoin ETFs pulled in $471 million on January 2, with intraday spot flow spiking 1,671% in five minutes, the second-highest daily inflow since November 11 1 2 3.
By January 8 these US spot Bitcoin ETFs flipped to $486 million in outflows, pushing two-day losses past $700 million 4. Fidelity’s FBTC (its spot Bitcoin ETF) shed $247.6 million, while BlackRock’s IBIT (its spot Bitcoin ETF) lost $130 million 4.
Ethereum ETFs followed the same swing, with $174 million in inflows on January 2, then $98.5 million in outflows days later 2 4.
The week went from strong inflows to hefty outflows, which signals unstable ETF demand and ongoing investor uncertainty about crypto positioning 1 2 3 4.

MSCI reversal gives a short-term boost to corporate Bitcoin treasuries

MSCI kept digital asset treasury companies in its global equity indexes 5. Investors avoided an estimated $10–15 billion in forced selling, and MicroStrategy’s stock (a business-intelligence software company known for holding significant Bitcoin on its balance sheet) rose about 5% 5.
This decision removes indexation risk for chief financial officers (CFOs) and corporate treasury teams at public companies 5. Exclusion from major indexes can force passive funds to sell, which had discouraged Bitcoin balance sheet strategies 5.
Treasury technology providers and crypto custodians now have a clearer case when pitching corporate Bitcoin adoption 5. MSCI plans further study, so this window could close 5.
Financial advisors managing index-linked retirement accounts can keep exposure to 190+ public companies holding Bitcoin without forced rebalancing, preserving access for retail investors who invest indirectly 5.