Christmas week outflows of $446M-$782M from crypto ETPs exceed typical year-end patterns, where holiday periods often see 20-50% lighter volumes and modest $100M-$300M net withdrawals due to seasonal de-risking.[1][2] This year’s spike reflects amplified fragility from macro uncertainty, contrasting milder 2024 Christmas flows of ~$150M amid stronger Bitcoin momentum.[3][4]
Historical Year-End Benchmarks
Traditional year-end ETF flows (equity/crypto) average -0.5% to -1.2% AUM reduction in late December, driven by tax-loss harvesting and rebalancing, with crypto ETPs in 2023-2024 showing $200M-$400M weekly outflows during holidays.[5][6] Christmas 2025’s $446M (Bitcoin-focused) surpasses 2024’s equivalent week by 2x, while Ethereum’s $555M weekly exit marks a record holiday pullback despite YTD $12.7B inflows.[2][7]
Key Comparison Metrics
| Metric | Christmas Week 2025 [1][2] | Typical Year-End (2023-2024) [3][5] | Deviation |
|---|---|---|---|
| Total Outflows | $446M-$782M | $150M-$400M | +150-300% |
| Bitcoin ETP Share | 70-80% ($300M-$600M) | 50-60% ($100M-$250M) | Elevated |
| Volume vs. Avg Week | 40-60% thinner | 30-50% thinner | Similar |
| YTD Net Inflows Impact | Minor (46.7B total) | Negligible (<1%) | Consistent |
Driving Factors
2025 outflows stem from holiday positioning (e.g., BlackRock IBIT’s $193M single-day exit) and sentiment fear (index ~24), versus typical patterns tied to profit-taking without structural shifts.[2][4] Non-U.S. ETPs bucked trends with selective inflows, unlike broad U.S.-led selling, signaling regional divergence from historical norms.[1][8] Expect January reversal if flows stabilize, mirroring past year-end bounces.[3]
Sources
[1] Crypto ETPs shed $446M over Christmas as year-end sentiment remains fragile https://www.tradingview.com/news/cointelegraph:89ddf47e4094b:0-crypto-etps-shed-446m-over-christmas-as-year-end-sentiment-remains-fragile/
[2] Bitcoin News Today: Spot Bitcoin ETFs See $782M in Christmas Week Outflows as Holiday Positioning Drives Withdrawals https://www.binance.com/en-IN/square/post/12-28-2025-bitcoin-news-today-spot-bitcoin-etfs-see-782m-in-christmas-week-outflows-as-holiday-positioning-drives-withdrawals-34319287414209
[3] Bitcoin ETF “record outflows” are deceptive as crypto products absorbed $46.7 billion in 2025 https://cryptoslate.com/bitcoin-etf-record-outflows-are-deceptive-as-crypto-products-absorbed-46-7-billion-in-2025/
[4] Crypto ETF Outflows Ahead Of Christmas 2025 – MEXC Blog https://blog.mexc.com/news/crypto-etf-outflows-ahead-of-christmas-2025/
[5] Crypto ETPs See $1B Outflows in a Week, Traders Eye Holiday Altcoin Rally https://finance.yahoo.com/news/crypto-etps-see-1b-outflows-115154433.html
[6] Bitcoin And Crypto ETFs Experience Pre-Holiday Outflows … https://www.crowdfundinsider.com/2025/12/256837-bitcoin-and-crypto-etfs-experience-pre-holiday-outflows-amid-year-end-adjustments/
[7] Bitcoin and Ethereum ETFs Saw $232M Exit Ahead of Christmas … https://coinmarketcap.com/academy/article/bitcoin-and-ethereum-etfs-see-dollar232m-exit-before-holidays
[8] As of December 27, 2025, the cryptocurrency ETF market conti https://www.binance.com/en-IN/square/post/34267515436257
