Bitcoin ETFs lose record $4.57 billion in two months

Core Insights - The U.S.-listed spot crypto ETFs experienced their worst outflow period on record in the last two months of 2025, with investors withdrawing billions, marking a challenging year-end for a product that has significantly contributed to institutional adoption [1] Group 1: ETF Performance - The 11 spot ETFs saw a net outflow of $1.09 billion in December following a larger outflow of $3.48 billion in November, totaling $4.57 billion in redemptions over the two months, the highest since their launch in January 2024 [2] - The U.S.-listed ether ETFs also faced significant withdrawals, with over $2 billion pulled from these funds in November and December [3] Group 2: Market Sentiment - The outflows reflect a notable decrease in institutional interest in leading cryptocurrencies, coinciding with a 20% decline in bitcoin's price during the same timeframe [3] - Despite the negative sentiment from ETF outflows and liquidations, some experts suggest that the market is in a state of equilibrium rather than panic, with weaker investors exiting and stronger balance sheets absorbing the supply [4] Group 3: Alternative ETF Trends - While bitcoin and ether ETFs lost favor, XRP ETFs gained over $1 billion in inflows during November and December, and Solana's SOL ETFs attracted more than $500 million [5]