Bitcoin and ether spot ETFs experienced another round of outflows on December 24 as traders approached the Christmas holidays with reduced liquidity and reduced risk appetite.
SoSoValue data showed that bitcoin spot ETFs recorded $175 million in net outflows on Wednesday, while ether spot ETFs showed $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 million.
The only notable compensation came from Grayscale’s Ethereum Mini Trust ETF. which registered a ticket of 3.33 million dollars and has now reached 1,506 million dollars in accumulated tickets.
The pattern fits what tends to happen around major holidays. Trading volumes fall sharply, desks are lighter and positioning becomes more defensive.
In that environment, even modest orders can have a huge effect on ETF flows, especially when market makers widen spreads and investors prefer to hold onto cash rather than maintain exposure during illiquid sessions.
Capital outflows also don’t automatically mean investors are turning bearish. Some flows reflect routine rebalancing, fiscal management or rolling exposure across products.
But direction matters because these ETFs have become a visible representative of institutional demand. When flows turn negative for several sessions, it reinforces the idea that cryptocurrencies still behave as a risk asset that struggles when liquidity is reduced.
