Bitcoin and Ether exchange-traded funds (ETFs) extended their outflows streak on Tuesday as institutional investors paring exposure ahead of the Christmas holiday. Net daily outflows from spot Bitcoin ETFs reached $188.6 million on December 23, extending their four-day streak, per data from SoSoValue. The largest driver of the session’s outflows was BlackRock’s iShares Bitcoin Trust (IBIT) ETF, which logged $157.3 million in net redemptions.
Selling was spread across Fidelity’s FBTC, Grayscale’s GBTC, and Bitwise’s BITB. Ether spot ETFs also posted $95.5 million in net outflows on Tuesday, reversing $84.6 million in inflows a day earlier.
Over the prior week, 11 spot Bitcoin ETFs witnessed about $497.1 million exit, erasing a brief period of inflows in the week ending Dec. 12. The ETFs are considered a bellwether for institutional sentiment, which has been a key market driver for most of this year but seemingly turned bearish after the psychological $90,000 support level was breached. Outflows were led by Grayscale’s ETHE, which shed $50.9 million.
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