Bitcoin ETFs failed a critical holiday stress test as $1.29 billion vanished through “tactical” positioning

U.S. spot Bitcoin ETFs saw approximately $1.29 billion in net outflows over the 12 trading sessions between December 15th and December 31st, serving as a stress test for the new product category during a low-liquidity holiday stretch. This outflow was not solely driven by legacy GBTC redemptions; IBIT accounted for nearly half of the net outflow, suggesting that even core allocation vehicles were used for tactical positioning or year-end cleanup. The period saw only two strong inflow days ($812 million total) which were overwhelmed by outflows totaling about $2.10 billion. This $1.29 billion net sell pressure, equivalent to roughly 14,500 BTC at $89,000, contributed to Bitcoin trading in a constrained range. Analysts suggest that if these flows were primarily year-end rebalancing, a January snapback is possible, but if driven by rate-sensitive positioning, flows could remain volatile, indicating that ETF flows are now a significant daily macro input affecting price action.

(Source：CryptoSlate)