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Bitcoin ETF outflows deepen during Christmas trading lull

Written by Heidi Cuthbert Published dez. 29 2025Last Updated dez. 29 2025

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Spot Bitcoin exchange-traded funds recorded heavy withdrawals during Christmas week as seasonal trading patterns dominated market activity.

Data from SoSoValue shows investors pulled a combined $782 million from US-listed spot Bitcoin ETFs over the holiday period.

The largest single-day outflow occurred on Friday, when net withdrawals totalled approximately $276 million.

BlackRock’s IBIT fund led losses, recording nearly $193 million in redemptions in one session.

Fidelity’s FBTC followed with roughly $74 million in net outflows on the same day.

Grayscale’s GBTC also continued to post modest but persistent redemptions.

Total assets under management across spot Bitcoin ETFs fell to about $113.5 billion by the end of the week.

Earlier in December, total ETF assets had exceeded $120 billion.

Bitcoin prices remained relatively stable near the $87,000 level despite the withdrawals.

The period marked the sixth consecutive day of net outflows for spot Bitcoin ETFs.

This represented the longest withdrawal streak since early autumn.

Over the six-day stretch, cumulative ETF outflows surpassed $1.1 billion.

Analysts cautioned against interpreting the data as a collapse in institutional demand.

Kronos Research chief investment officer Vincent Liu attributed the trend to holiday positioning.

Bitcoin ETF outflows during the Christmas period are not unusual.

Vincent Liu said.

He said thinner liquidity and reduced desk activity often distort short-term flows.

Liu said institutional participation typically resumes as trading desks return in January.

As desks return in early January, institutional flows typically re-engage and normalize.

Vincent Liu said.

Liu also pointed to expectations for looser monetary policy supporting future demand.

Rate markets are already pricing in between 75 and 100 basis points of cuts.

Liu said easing momentum could provide a tailwind for crypto-related investment products.

He added that bank-led crypto infrastructure continues to scale globally.

Reduced operational friction may encourage larger institutional allocations in coming months.

However, some data suggests a broader cooling in institutional crypto exposure.

Glassnode reported that Bitcoin and Ether ETFs have entered a sustained outflow phase.

Since early November, the 30-day moving average of ETF flows has remained negative.

Analysts view ETF flows as a proxy for institutional sentiment.

Prolonged redemptions may indicate caution as global liquidity conditions tighten.

Despite near-term weakness, analysts say longer-term demand drivers remain intact.

At the time of reporting, Bitcoin price was $90,197.62.