US spot cryptocurrency ETFs recorded $669 million in combined inflows on January 2, reversing a brutal year-end selloff.
Bitcoin (BTC) products dominated with $471 million in new capital while Ethereum (BTC) funds added $174 million.
The surge marked the second-highest daily inflow since November 11 and followed a record $4.57 billion in outflows across November and December.
BlackRock's iShares Bitcoin Trust captured approximately $287 million, leading all products.
What Happened
Fidelity's Bitcoin fund attracted $88 million while Bitwise's product recorded $41.5 million in inflows.
Grayscale's Bitcoin Trust and Franklin Templeton's fund registered $15 million and $13 million respectively.
Ethereum products showed strength across multiple issuers, with Grayscale's main trust leading at $53.69 million.
Grayscale's Ethereum Mini Trust pulled in $50 million while BlackRock's Ethereum fund secured $47 million.
Alternative cryptocurrency ETFs also posted gains, with XRP funds recording $13.59 million and Solana products adding $8.53 million.
Dogecoin (DOGE) ETFs saw $2.3 million in inflows, marking the highest single-day figure since the product's inception.
Read also: XRP Overtakes BNB To Claim Fourth-Largest Cryptocurrency Position
Why It Matters
The inflows represent a sharp reversal from the worst two-month stretch on record for crypto ETFs.
Bitcoin ETFs experienced $4.57 billion in combined outflows during November and December, coinciding with a 20% decline in Bitcoin's price.
December 31 alone saw $348.1 million in Bitcoin ETF outflows, led by BlackRock, Fidelity, and Ark & 21Shares funds.
Ethereum ETFs lost over $2 billion during the same period before Thursday's reversal.
The coordinated buying across Bitcoin, Ethereum, and altcoin products suggests institutional investors are reallocating capital after tax-loss harvesting.
Data from Farside Investors confirmed the figures represent the strongest Bitcoin ETF inflow since November 11 and largest Ethereum inflow since December 9.
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