Spot bitcoin and ether ETFs saw another round of outflows on December 24 as traders entered the Christmas holidays with reduced liquidity and lower risk appetite.
Data from SoSoValue showed that Bitcoin spot ETFs saw $175 million in net outflows on Wednesday, while Ether spot ETFs posted $57 million in outflows.
The largest single-day outflow came from BlackRock’s IBIT, which saw $91.37 million leave the fund. Grayscale’s GBTC followed with an outflow of $24.62 million.
Ethereum spot ETFs also lost ground. SoSoValue reported $52.7 million in net outflows that day.
Grayscale’s ETHE led the selling pressure with an outflow of $33.78 million, bringing its cumulative historical net outflows to $5.083 billion.
The only notable compensation came from Grayscale’s Ethereum Mini Trust ETF. which recorded an inflow of $3.33 million and has now reached $1.506 billion in cumulative inflows.
The pattern matches what tends to happen at major holidays. Trading volumes are falling sharply, desks are lighter and positioning is becoming more defensive.
In this environment, even modest orders can have an outsized effect on ETF flows, particularly when market makers widen spreads and investors prefer to conserve cash rather than gain exposure during illiquid sessions.
Capital outflows also don’t automatically mean investors are becoming bearish. Some flows reflect routine rebalancing, tax management, or ongoing exposure across products.
But direction is important because these ETFs have become a visible indicator of institutional demand. When flows turn negative for multiple sessions, it reinforces the idea that crypto still behaves like a risk asset that struggles when liquidity tightens.
