Extended crypto ETF outflows shows institutions disengaging: Glassnode

cointelegraphPublicado em 2025-12-24Última atualização em 2025-12-24

Resumo

Cryptocurrency ETFs, particularly for Bitcoin and Ether, are experiencing a prolonged period of outflows, signaling a significant pullback by institutional investors, according to analytics firm Glassnode. The 30-day simple moving average for net flows into US spot Bitcoin and Ether ETFs turned negative in early November, indicating muted institutional participation and a broader liquidity contraction in the crypto market. While aggregate Bitcoin ETF flows have been negative for four consecutive days, BlackRock's iShares Bitcoin Trust (IBIT) saw minor recent inflows. Despite the current trend, IBIT has attracted $62.5 billion since its launch, surpassing all competitors. Notably, it ranked sixth on Bloomberg’s 2025 Flow Leaderboard despite a negative return, even outperforming the SPDR Gold Shares fund in inflows, which analysts see as a positive long-term indicator.

Bitcoin and Ether exchange-traded funds have seen a prolonged streak of outflows, indicating that institutional investors have disengaged with crypto, says the analytics platform Glassnode.

Since early November, the 30-day simple moving average of net flows into US spot Bitcoin (BTC) and Ether (ETH) ETFs has turned negative, Glassnode said on Tuesday.

“This persistence suggests a phase of muted participation and partial disengagement from institutional allocators, reinforcing the broader liquidity contraction across the crypto market,” it added.

Flows into crypto ETFs usually lag the spot markets for the tokens, which have been trending down since mid-October.

The ETFs are also considered a bellwether for institutional sentiment, which has been a market driver for most of this year but seemingly turned bearish as the wider market has contracted.

Source: Glassnode

Crypto ETF selling pressure is back

Coinglass said aggregate Bitcoin ETF flows have been in the red for the past four consecutive trading days. However, BlackRock’s iShares Bitcoin Trust (IBIT) has seen minor inflows over the past week.

“Crypto ETF selling pressure is back,” the Kobeissi Letter said on Tuesday. It reported that crypto funds recorded $952 million in outflows last week, and investors have now withdrawn capital in six out of the last ten weeks.

Related: BlackRock pins Bitcoin ETF as major theme alongside T-bills, tech stocks

Despite the recent outflows, the industry-dominant BlackRock fund has seen $62.5 billion in inflows since inception, eclipsing all rival spot Bitcoin ETFs.

IBIT beat gold for flows

Bloomberg ETF analyst Eric Balchunas said on Saturday that IBIT is the only ETF on Bloomberg’s “2025 Flow Leaderboard” with a negative return for the year.

“The real takeaway is that it was sixth place despite the negative return,” he added.

Balchunas said that BlackRock’s flagship Bitcoin fund even took in more than the SPDR Gold Shares fund (GLD), which was up 64%.

“That’s a really good sign long term IMO. If you can do $25 billion in a bad year, imagine the flow potential in a good year.”

Magazine: Bitcoin may dip to $65K in 2026, Clarity Act speculation grows: Hodler’s Digest

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Perguntas relacionadas

QWhat does the prolonged streak of outflows from Bitcoin and Ether ETFs indicate according to Glassnode?

AIt indicates that institutional investors have disengaged with crypto, suggesting a phase of muted participation and a broader liquidity contraction across the crypto market.

QSince when has the 30-day simple moving average of net flows into US spot Bitcoin and Ether ETFs turned negative?

ASince early November.

QWhich Bitcoin ETF has seen minor inflows over the past week despite overall outflows?

ABlackRock’s iShares Bitcoin Trust (IBIT).

QHow much in outflows did crypto funds record last week as reported by the Kobeissi Letter?

A$952 million.

QWhat significant achievement did Bloomberg ETF analyst Eric Balchunas highlight about the iShares Bitcoin Trust (IBIT) on the 2025 Flow Leaderboard?

AIBIT was the only ETF on the leaderboard with a negative return for the year but still ranked sixth in flows, even taking in more than the SPDR Gold Shares fund (GLD) which was up 64%.

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