Spot bitcoin and ether ETFs experienced fresh outflows on Dec. 24 as traders headed into the Christmas holiday amid lighter liquidity and reduced risk appetite.
Data from SoSoValue showed bitcoin spot ETFs saw $175 million leave on Wednesday, while ether spot ETFs posted $57 million in net outflows. BlackRock’s iShares Bitcoin Trust (IBIT) led the withdrawals with $91.37 million exiting, followed by Grayscale’s GBTC at $24.62 million.
Ethereum-focused ETFs also faced pressure. Grayscale’s ETHE led with $33.78 million in outflows, pushing its cumulative net withdrawals to $5.083 billion. The only notable inflow came from Grayscale’s Ethereum Mini Trust ETF, which added $3.33 million, bringing total cumulative inflows to $1.506 billion.
The flow pattern is typical for the holiday period: trading volumes drop, desks operate with lighter staffing, and positioning turns more defensive. In such conditions, even modest orders can have an outsized effect on ETF flows, particularly as market makers widen spreads and investors prefer to hold cash.
ETF outflows do not necessarily signal bearish sentiment, as some activity reflects portfolio rebalancing, tax planning, or rolling exposure between products.
However, persistent outflows remain a key gauge of institutional demand. Continued withdrawals reinforce that crypto still trades like a risk asset, vulnerable when liquidity is thin.
