Bitcoin ETFs See $175 Million Outflows on Christmas Eve

Bitcoin () institutional outflows continued into Christmas as the US gained the title of biggest BTC seller.

Key points:

• Bitcoin ETF netflows stay negative for Christmas Eve as the institutional investment vehicles lose another $175 million.

• Tax obligations and the quarterly options expiry are blamed for the poor performance.

• Hope remains for a broad rebound after the holiday season.

Analysis: Bitcoin institutional bid to return “soon”

Data from UK-based investment company confirmed that on Christmas Eve, net outflows from the US spot Bitcoin exchange-traded funds (ETFs) totaled over $175 million.

Bitcoin institutional capital saw no reason to wrap up for the holidays while Wall Street was still open this week.

Farside shows that a continued right up until the last pre-Christmas US trading session ended, with net outflows at $175.3 million.

The tally is similar to that of the past five trading days, which each ended “in the red” for total net outflows of $825.7 million. Since Dec. 15, every trading day has been red except for Dec. 17, which managed to attract net inflows of $457.3 million.

Commenting, market participants attributed the ETFs’ weak performance to seasonality.

“Most of the selling is due to tax loss harvesting, which means it’ll be over in a week,” trader Alek wrote in a .

Alek further noted that Friday’s could be impacting risk appetite.

“This is temporary and institutions will back to bidding soon,” he added.

An accompanying chart underscored a recent phenomenon: persistent BTC price downside during US trading sessions.

The Coinbase Premium, which measures the difference in price between Coinbase’s BTC/USD and Binance’s BTC/USDT pairs, has in negative territory.

“US is now the biggest seller of $BTC. Asia is now the biggest buyer of Bitcoin,” crypto analyst and entrepreneur Ted Pillows .

A negative Premium reflects a lack of buyer demand from the US, which some believe Bitcoin needs to rediscover to have a chance at holding higher levels.

Bitcoin, Ether ETFs stuck since early November

Offering some hope for 2026, trader BitBull argued that negative ETF netflows, even on a 30-day moving average basis, do not imply “final market tops.”

Related:

“Price stabilizes first, flows turn neutral, and only then do inflows return. For now, the data suggests liquidity is inactive, not destroyed,” he X followers about both Bitcoin and Ether () ETF habits. 

“A trend change will likely start with ETF flows turning positive again before price makes a strong move.”

30-day moving average netflows have been consistently negative since the start of November.

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This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.