Spot Bitcoin ETFs extended a six-day withdrawal streak as analysts point to seasonal factors rather than weakening institutional demand.
Spot Bitcoin exchange-traded funds (ETFs) recorded heavy outflows over Christmas week, with investors pulling a combined $782 million from the products, according to data from SoSoValue.
The most significant single-day withdrawal during the period occurred on Friday, when spot Bitcoin (BTC) ETFs posted $276 million in net outflows. BlackRock’s IBIT led the losses with nearly $193 million exiting the fund, followed by Fidelity’s FBTC at $74 million. Grayscale’s GBTC also continued to see modest redemptions.
Total net assets across US-listed spot Bitcoin ETFs fell to roughly $113.5 billion by Friday, down from peaks above $120 billion earlier in December, even as Bitcoin prices held relatively steady near the $87,000 level.
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