January 28 News, as of early 2026, market sentiment in the cryptocurrency space remains subdued, with some altcoins under particular pressure. VanEck’s launched US spot Avalanche (AVAX) ETF had a lackluster first day, recording no net fund inflow, with a total trading volume of only about $330,000 throughout the day, sparking discussions about the actual demand for altcoin ETFs.
In contrast, other similar products had a strikingly different debut. The Solana-related ETF launched by Bitwise at the end of October last year attracted approximately $69 million in inflows despite market volatility, with a trading volume approaching $58 million. In mid-November, Canary Capital’s first XRP spot ETF raised about $245 million on its debut day, and Grayscale’s LINK ETF also garnered around $41 million in interest. Compared to these, the “zero inflow” of the AVAX ETF appears particularly glaring.
Whether this result indicates a slow launch pace or reflects the market’s true attitude toward mid-tier altcoin ETFs remains uncertain. Bloomberg analyst James Seyffart pointed out that top-ranked cryptocurrencies by market cap are likely to launch ETF products in the future, but he personally favors index-based solutions over single-asset ones.
From the sentiment indicators, AVAX was in a clearly pessimistic zone during its listing. Its Fear & Greed Index once dropped to 20, then only slightly rebounded to 29, remaining in a state of “panic.” The ETF launch did not significantly alter market expectations, and speculative funds continue to remain cautious.
Derivatives data also confirms weak demand. Since a sharp correction in early October last year, AVAX’s open interest has rapidly shrunk from nearly $1 billion to below $200 million, indicating limited new participation in both spot and futures markets. In terms of price, AVAX has recently only rebounded slightly by about 2%, still oscillating within the $11 to $15 range.
Currently, bulls are trying to hold the key level around $11, but market reactions to ETF-related news are tepid, putting the sustainability of the rebound to the test. If the lower boundary of the range is broken, price volatility risks could further increase, and short-term trends will depend on whether there is a substantial improvement in market liquidity.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitmine advances to the NYSE main board! Tom Lee: U.S. stocks may have hit bottom, and selling pressure on Ether could ease
Bitmine has officially moved from the U.S. segment of the New York Stock Exchange to the main board, marking an important milestone for the company. Although its share price has fallen sharply, it has still increased the share repurchase plan limit to $4 billion. The company holds a large amount of Ether, and it expects that a rebound in the crypto market will help improve its assets and share price performance.
CryptoCity2h ago
Bitmine Upgrades to the NYSE Main Board! Tom Lee: US stocks may have bottomed out, and selling pressure on Ether could ease
Bitmine has officially moved from the New York Stock Exchange U.S. board to the main board, marking a major milestone for the company. Despite a sharp drop in the stock price, it has still increased the share repurchase plan to $4.0 billion. The company holds a large amount of Ethereum, and expects that a rebound in the crypto market will help strengthen its assets and stock price performance.
CryptoCity5h ago
RAVE’s hype surge triggers a flood of copycat coin mania, as FF and INX expose the “pump-and-dump” scheme
Recently, altcoins represented by RAVE have sparked a fierce investment craze, but some old star projects like FF and INX have used this wave of hype to carry out “pump-and-dump” operations—rapidly driving up coin prices to lure retail investors to buy, and then dumping them heavily, causing the price to plunge rapidly. Such behavior not only exposes the project team’s funding difficulties, but also damages investors’ trust. Investors need to stay alert to signals like abnormal short-term surges in order to avoid the risk of being manipulated by the market.
MarketWhisper6h ago
Bitmine gets promoted to the NYSE main board! Tom Lee: US stocks may have bottomed out, and sell pressure on Ether could ease
Bitmine has officially moved from the NYSE American board to the main board, marking an important milestone for the company. Despite the sharp decline in its share price, it has still increased the share repurchase plan amount to $4 billion. The company holds a large amount of Ethereum, and it expects that a rebound in the crypto market will help boost its assets and share price performance.
CryptoCity9h ago
Why Is Bitcoin Up Today? Hormuz Blockade Triggers Short Squeeze and a BTC Test of $75k
On April 13, Bitcoin rose from its early-session low of 70,741 to trade as high as $74,900 during the session, approaching the $75,000 level. The main drivers came from two directions: after Trump ordered the blockade of the Strait of Hormuz, traders began to view Bitcoin as a geopolitical hedge asset; and a massive net short position that had been building as funding rates stayed persistently negative was met with liquidation, triggering a chain of liquidations totaling millions of dollars near the $70,000 support level.
MarketWhisper11h ago
Bitmine gets promoted to the NYSE main board! Tom Lee: U.S. stocks may have bottomed out, and Ether’s selling pressure may ease
Bitmine has officially moved from the NYSE American board to the main board in the United States, marking an important milestone for the company. Despite a sharp drop in its stock price, it has still increased its share repurchase authorization to $4.0 billion. The company holds a large amount of Ether, and it predicts that a rebound in the crypto market will help boost its assets and stock price performance.
CryptoCity12h ago
