Zero inflows, weak demand: Did VanEck’s AVAX ETF debut fall flat?

Crypto market sentiment is deeply adverse in early 2026 and even worse for some choose altcoins. 

This was illustrated by the latest launch of VanEck’s U.S. spot Avalanche [AVAX] ETF, which noticed zero inflows and paltry $330K in buying and selling quantity. 

For comparability, the Bitwise Solana [SOL] ETF went dwell on the twenty ninth of October, simply after the market-wide crash. But it recorded $69 million in inflows and $58 million in buying and selling quantity. 

In mid-November, Ripple’s first spot XRP ETF, launched by Canary Capital, noticed $245 million in inflows on its launch day. Chainlink’s Grayscale LINK ETF additionally attracted $41 million, making the first-ever AVAX ETF’s zero-inflow debut a subdued reception in comparison with different altcoin ETFs. 

Whether or not this was only a gradual begin or a actuality verify for different altcoin ETFs remained to be seen. Bloomberg analyst James Seyffart said the highest 20 crypto belongings will possible see no less than one single ETF, however was extra “bullish on index merchandise.” 

AVAX’s debut met with ‘excessive concern’

Even so, the debut was met with ‘excessive concern,’ which remained barely unchanged as of press time. Notably, the altcoin’s Concern and Greed Index dropped to twenty through the launch and barely improved to a ‘concern’ degree of 29. 

Supply: Gate

In different phrases, speculators had been extraordinarily bearish on the altcoin, and the ETF debut made no big distinction.   

A have a look at AVAX’s Open Curiosity (OI) or general speculative urge for food throughout the Futures market painted the identical image. For the reason that crash on the tenth of October, AVAX’s OI has fallen off a cliff from almost $1 billion and has remained stagnant beneath $200 million. 

Supply: Velo

In different phrases, demand for the altcoin was flat throughout spot and Futures markets. On the worth charts, AVAX solely bounced 2% however nonetheless struggled close to its late 2025 value vary of $11-$15. 

The prolonged promoting strain in mid-December eased on the vary lows of $11. Bulls tried to defend the extent as soon as once more this week.

Nonetheless, the muted value response to the ETF replace raised doubts about whether or not the assist will maintain and enhance bulls to push towards $13 or $15. 

Supply: AVAX/USDT, TradingView

A break beneath the vary would reinforce a deeper correction, rising the chances of a dip beneath $10 if the bearish sentiment persists.

Remaining Ideas 

• Not like the latest altcoin ETF debuts, the first-ever AVAX ETF attracted zero inflows and $330k in buying and selling quantity 
• Speculative curiosity has been flat for the previous few months, whereas sentiment has soured deeply.