Key Takeaways:
- Silver ETFs rose 14% as markets opened in 2026.
- BTC ETFs also see $695 million inflow in a single day.
- Global political and economic situations can alter positive sentiment.
The global ETF market has opened with renewed interest, with silver ETFs outperforming the spot silver prices as 2026 starts.
This is the 3rd trading day of the year, and so far $SLV, a silver ETF, is already up 14%. That’s likely a higher return than the S&P 500 will deliver all year. However, because investors lack confidence in the rally, $SIL, a silver miners ETF, is up just 6%. It should be up 50%.
— Peter Schiff (@PeterSchiff) January 6, 2026
This coincides with a resurgence in the crypto sector, with 5 January 2026 seeing the largest Bitcoin (BTC) ETFs’ inflow in three months.
Rising demand and supply crunch are driving silver prices higher
Silver, an industrial commodity known as “poor man’s gold” due to its lower cost compared to gold, is seeing higher industrial demand as it is utilized in expanding industries such as solar panels, electronics, and electric vehicles.
At the same time, silver is seeing an overall reduction in supply, with mining decreasing by 2500 metric tons over the decade.
Silver ETF price movement. Source: MacroMicro
As the demand-to-supply ratio increases, silver has already risen as much as 150% in 2025, even outpacing gold.
Bitcoin ETFs also show signs of recovery
The ending months of 2025 weren’t so kind to BTC ETFs. It witnessed a massive single-day outflow of $866 million on 13 November 2025, hours after the US government’s 43-day shutdown ended.
The month-and-a-half-long shutdown dragged the crypto market and BTC price down (among other factors), but the 2026 opening is positive. BTC ETFs have witnessed a net inflow of $695 million on 5 January, the biggest inflow in three months. This may point to traditional investors seeking more exposure to the leading digital assets.
BTC ETFs net flow. Source: CoinMarketCap
Morgan Stanley has also filed for a Bitcoin and Solana ETF with the Securities and Exchange Commission (SEC), showing that the bank is interested in launching its own Bitcoin ETF and other crypto products instead of relying on third-party options.
However, the Far East may have a different influence, with Japan’s 30-year bond yields hitting record highs of 3.5%. Notably, higher yields in traditional Japanese instruments negatively impact crypto investments, as investors rotate to less risky options.
What does 2026 hold for silver and BTC ETFs?
Key macro signals, such as rate cuts and liquidity, show positive signals, which may fuel investors’ appetite for high-risk assets like Bitcoin. At the same time, silver’s increasing demand may propel it further.
Yet, investors will need to keep an eye on regulatory and fiscal policies. While the US economy is projected to still outgrow other countries, expected high interest rates and Liberation Day tariffs may keep investors wary of parking their money in high-risk assets.
Similarly, for traditional investors, China’s decision to give a selective export license on refined silver may lead to further supply crunch. While it may drive up the price of silver, it will make products that heavily rely on silver (PV panels, electronics, EVs) expensive, affecting the global economy.
Geopolitical factors such as a possible second incursion by US forces in Venezuela and the Bank of Japan’s continued increase in interest rates can also play their part in creating a bearish scenario for spot and ETF prices for silver, BTC, and the overall global financial market.
