Bitcoin and Ethereum spot ETFs saw fresh selling pressure on December 24, as traders reduced exposure ahead of the Christmas break. With liquidity thinning and risk appetite fading, even moderate fund movements had a visible impact on ETF flows.
Bitcoin ETFs Record Sharp Pullback
Data from SoSoValue shows Bitcoin spot ETFs posted $175 million in net outflows in a single session. The largest withdrawal came from BlackRock’s iShares Bitcoin Trust (IBIT), which alone saw $91.37 million leave the fund.
Grayscale’s GBTC followed with $24.62 million in outflows, adding to signs of short-term caution among institutional investors.
Ethereum ETFs Also Lose Ground
Ethereum spot ETFs mirrored Bitcoin’s weakness. Total net outflows reached $52.7 million, driven largely by Grayscale’s Ethereum Trust (ETHE), which saw $33.78 million exit in one day.
ETHE’s cumulative historical net outflows have now climbed to $5.083 billion, underlining ongoing structural pressure on the legacy product.
One Exception Stands Out
While most Ethereum funds faced redemptions, Grayscale’s Ethereum Mini Trust ETF (ETH) moved in the opposite direction. The fund recorded $3.33 million in inflows, pushing its total cumulative inflows to $1.506 billion.
Why Crypto ETF Flows Shift Around Holidays
This pattern is common during major holidays:
Trading desks run light
Market liquidity drops
Bid-ask spreads widen
In these conditions, investors often choose to stay on the sidelines. Even small trades can cause noticeable ETF flow changes when volumes are thin.
Do ETF Outflows Mean Crypto Is Turning Bearish?
Not necessarily. ETF withdrawals can reflect routine portfolio adjustments, tax planning, or rotation between similar products rather than outright pessimism. However, repeated outflows still influence market sentiment.
What ETF Flows Say About Institutional Crypto Demand
Spot Bitcoin and Ethereum ETFs have become a key gauge of institutional participation in crypto markets. When flows turn negative during low-liquidity periods, it reinforces a familiar reality: crypto still behaves like a risk asset when liquidity tightens.
As markets move into the holiday stretch, ETF flows may remain volatile until normal trading activity returns.
