Bitcoin ETFs Bleed $175M as BlackRock's IBIT Leads Pre-Christmas Outflows

Investors are trading crypto for cash this Christmas. Spot bitcoin and ether ETFs saw more than $232 million in net outflows on December 24, 2025, as traders reduced risk exposure ahead of the holiday break, signaling a cautious end to the year.

BlackRock and Grayscale at the Forefront

According to data from SoSoValue, spot bitcoin ETFs posted $175 million in net outflows on Wednesday. The largest single-day exit came from BlackRock'sIBIT fund, which saw $91.37 million walk out the door. Grayscale'sGBTC followed with a $24.62 million outflow.

Ethereum spot ETFs also lost ground, with net outflows totaling $57 million. Grayscale's ETHE led the selling pressure with a $33.78 million outflow. In a counter-trend, Grayscale's Ethereum Mini Trust ETF (ETH) recorded a $3.33 million inflow, highlighting varied investor strategies during low-liquidity periods.

Holiday Illiquidity and Portfolio Rebalancing

This pattern fits what typically happens around major holidays. Trading volumes drop, and positioning becomes more defensive. Analysts note that these outflows don't automatically mean investors are turning bearish. Some of the movement could reflect routine year-end rebalancing, tax-loss harvesting, or simply rolling exposure between different products.