Spot bitcoin and ether ETFs saw another round of outflows on December 24 as traders headed into the Christmas holiday with reduced liquidity and weaker risk appetite.
SoSoValue data showed that bitcoin spot ETFs had $175 million in net outflows on Wednesday, while ether spot ETFs showed $57 million in outflows.
The biggest single-day exit 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 on the day.
Grayscale’s ETHE led the selling pressure with an outflow of $33.78 million, bringing its cumulative historical net outflow to $5.083 billion.
The only notable offset 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 inflow.
The pattern fits what tends to happen around major holidays. Trading volume drops sharply, desks become lighter and positioning becomes more defensive.
In that environment, even modest orders can have an overall effect on ETF flows, especially when market makers widen spreads and investors prefer to sit on cash rather than carry exposure through illiquid sessions.
Nor do outflows automatically mean investors are turning bearish. Some flows reflect routine rebalancing, tax management or rolling exposure between products.
But the direction matters because these ETFs have become a visible proxy for institutional demand. When flows turn negative for multiple sessions, it reinforces the idea that crypto still behaves as a risk asset that struggles when liquidity tightens.
