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
Market panic too extreme? MicroStrategy founder: Bitcoin has already hit bottom, quantum threats are overblown fears
Michael Saylor asserts that Bitcoin has already completed a bottoming process at $60k, and he believes concerns about threats from quantum computers are exaggerated. He predicts that in the future, Bitcoin will become the core of a digital credit system, and he mentioned that there is limited selling pressure in the market, which could help drive a new bull cycle. Mizuho also has a positive assessment of his company’s future performance.
CryptoCity11m ago
ILV Skyrockets 34% — What’s Fueling This Surge?
Illuvium's ILV price surged to $5.6, marking a 33.97% increase in just one hour, with a 24-hour trading volume of $1.88 million. This spike reflects heightened market activity and interest, driven by increasing user engagement and positive sentiment in the broader cryptocurrency market. Traders are monitoring key support and resistance levels for future price direction.
Coinfomania21m ago
Grayscale Says Aave Could Become Household Name
Grayscale says Aave could become mainstream, highlighting its decentralized lending model without intermediaries.
Bank of Canada finds Aave has lower margins due to reduced costs but flags risks from leveraged trading.
Governance issues and liquidations persist, though upgrades and ETF
CryptoFrontNews1h ago
Bitcoin Posts Its Strongest Weekly Gain Since October 2025: CPI Cooldown and US-Iran Ceasefire Provide a Double Boost, Lifting the Price to $73K
Bitcoin’s weekly gain this week reached nearly 7%, marking the strongest single-week performance since October 2025, as the U.S. core CPI data came in below expectations and a ceasefire agreement between Iran and Israel boosted market sentiment. The price briefly broke through $73,000. Market expectations have intensified that the Federal Reserve may start cutting rates sooner, and technical indicators show volatility compression, suggesting that significant price swings may be ahead. In the short term, attention should be paid to the ceasefire negotiations and the Federal Reserve’s policy direction.
ChainNewsAbmedia2h ago
Market overreacting in panic? MicroStrategy founder: Bitcoin has already bottomed out, quantum threats are overblown concern
Michael Saylor claims Bitcoin already completed its bottoming process when it reached $60k, and he believes concerns about threats from quantum computers are overblown. He predicts that in the future, Bitcoin will become the core of the digital credit system, and he also notes that there is limited selling pressure in the market, which could help drive a new bull run. Mizuho, meanwhile, has a positive assessment of the company’s future performance.
CryptoCity3h ago
Today’s Crypto Fear and Greed Index has fallen to 15, and the market is in extreme fear.
Gate News message, April 11, Alternative.me data shows that today’s Crypto Fear and Greed Index dropped to 15; yesterday, the index was 16, and the market is in a “Extreme Fear” state.
GateNews4h ago
