Overview
- Investors withdrew $3.48 billion in November and $1.09 billion in December for a combined $4.57 billion, the worst two-month stretch since the products launched in January 2024, according to SoSoValue.
- Bitcoin’s price fell roughly 20% during the same period, tracking the sharp pullback in ETF flows reported across U.S. spot funds.
- Ether spot ETFs saw more than $2 billion in outflows across November and December, while XRP funds took in over $1 billion and Solana products attracted more than $500 million, signaling rotation rather than a blanket exit.
- From Dec. 15 to Dec. 31, spot Bitcoin ETFs posted about $1.29 billion in net outflows over 12 sessions, with only two positive flow days and IBIT accounting for roughly half of the net redemptions, Farside data showed.
- Giottus CEO Vikram Subburaj characterized the tape as a market in equilibrium rather than panic, noting weak holders exited into year-end as stronger balance sheets absorbed supply and prepared for January liquidity.