At the beginning of the new year, the cryptocurrency market has experienced a strong rebound. Bitcoin rarely rose during U.S. stock trading hours, breaking through the $90,000 mark, with a daily increase of 2-3%. Ethereum also gained strength, surpassing $3,100. The total market capitalization of the entire market exceeded $3 trillion, and trading volume has significantly rebounded. The driving forces behind this rebound come from multiple aspects. The post-holiday capital inflow effect is significant, with strong net inflows into ETFs being the main driver—on January 2nd, the single-day BTC ETF inflow exceeded $400 million, and ETH ETFs also exceeded $100 million. Analysts generally believe this is closely related to the so-called "January Effect" (the capital rotation effect in the first week of the new year). Among them, XRP performed the best, becoming the leading cryptocurrency of the day. XRP rose over 8% intraday, once returning above $2, marking the first time since mid-December that it broke through this level. The US spot XRP ETF continued to attract funds, with a single-day inflow of $13.59 million on January 2nd, and total inflows exceeding $1.1 billion. Coupled with the market interpreting the SEC commissioner change as a more friendly regulatory signal, XRP's momentum has become even more fierce—at one point, it even surpassed BNB to become the third-largest cryptocurrency. However, it is also worth reviewing past fluctuations. During November-December 2025, BTC ETFs experienced a record outflow of $4.57 billion, with prices falling 20% from their highs. This large-scale outflow contrasts with the current strong inflows and has led to differing opinions in the market about the subsequent trend.

#数字资产动态追踪 Recently, ETF buying activity has continued, and the market has indeed been pushed upward by this influx of funds. Just yesterday, XRP ETFs saw an inflow of $13.59 million, marking the 29th consecutive day of net inflows, with the total scale reaching approximately $1.18 billion. The popularity of Avalanche has also surged, with social media discussions skyrocketing. Honestly, ETFs have a significant impact on the crypto assets space. They change the game—previously, retail investors wanting to hold Bitcoin, Ethereum, and other assets had to register on exchanges, manage private keys, and face various barriers. Now, they can buy directly through regular brokerage accounts, and traditional investors no longer need to be hindered by these technical details. Since the launch of the US spot Bitcoin ETF, the inflow of funds has already reached hundreds of billions of dollars, which shows how strong the demand is. But everything has two sides. While ETF inflows can push prices higher, large-scale redemptions can also cause sharp sell-offs. Moreover, the Bitcoin held within ETFs is actually stored in custodial accounts of large institutions, which somewhat contradicts the original "decentralized" ethos. Overall, the benefits of ETFs outweigh the drawbacks. They truly bring crypto assets into the radar of traditional finance, and this shift is highly significant. Based on the changing attitude of the SEC, more ETFs for different cryptocurrencies may be approved in the future—SOL, ADA, and even some DeFi tokens could get on board. Once this door opens, capital inflows will become more accessible, but the market will also be more influenced by traditional financial cycles and sentiment. The crypto market is transitioning into a "mainstream" phase—this is both an opportunity and a new challenge. $ETH