Bitcoin spot ETFs listed in the United States recorded their largest-ever outflows during the months of November and December. This highlights a dramatic shift in investor sentiment as cryptocurrency prices retreated from recent all-time highs. Industry data shows that Bitcoin spot ETFs collectively experienced net redemptions totaling $4.57 billion over this two-month period, marking the largest withdrawal since the product's launch in January 2024.
November bore the brunt of the selling pressure, with total outflows reaching $3.48 billion, followed by an additional $1.09 billion exiting in December. The severe redemptions coincided with a significant drop in the price of Bitcoin. Between November and December, the price of Bitcoin fell by approximately 20%, sliding from around $109,554 to near $89,422.
This broad-based correction began earlier in the fourth quarter, following the digital currency's peak at a record high of $126,272 on October 6th, after which its upward momentum began to fade. Ethereum-related products also faced similar headwinds. Ethereum spot ETFs recorded net outflows of approximately $2 billion during the same two-month window, reflecting a broad weakness across the digital asset market, not confined solely to Bitcoin.
The record outflows underscore how quickly capital flowing into cryptocurrency-linked investment products can reverse during periods of heightened volatility, as investors reassess their exposure amid falling prices and shifting market conditions.
