Institutional inflows into Bitcoin ETFs and Ethereum ETFs are weakening significantly, with data showing net Capital remaining negative for over six weeks, leading to a contraction in overall crypto market liquidation .
This reversal reflects risk aversion ahead of the year-end, as Capital allocators become more cautious and ETF-driven rallies during the summer are gradually being Dump.
- The 30-day moving Medium of net Capital for Bitcoin ETFs and Ethereum ETFs has been negative since the beginning of November and has not yet recovered.
- The Bitcoin ETF recorded net outflows of $142.19 million for the day; total net assets decreased to $114.99 billion.
- The Ethereum ETF saw an inflow of $84.59 million on the day, but the 30-day trend remains negative; AUM is still at $18.20 billion.
The inflows into BTC and ETH ETFs have turned negative and this trend has continued.
Data shows that the net Capital (30-day SMA) of Bitcoin ETFs and Ethereum ETFs has turned negative since the beginning of November and has not yet returned to positive territory.
According to Glassnode charts , the 30-day Medium of net flows for both ETF groups simultaneously broke below zero in early November. The failure to recover for several weeks suggests that demand from large Capital is sustainably declining, not just short-term noise.
For much of 2025, ETF activity was a key source of liquidation , particularly during the July–September period when strong inflows supported Bitcoin's price above $110,000 and Ethereum above $4,500. However, from November onwards, this upward trend reversed rapidly, with many trading sessions showing continuous "red bars," characteristic of prolonged outflows.
Bitcoin ETFs are under Capital outflow pressure.
The Bitcoin ETF recorded net outflows of $142.19 million today, indicating that Capital pressure remains dominant in the short term.
Daily tracking data from SoSoValue shows that US Bitcoin ETFs saw net outflows of $142.19 million today. This extends the chain of Capital that repeated in November and December, reinforcing the “de-risk” picture of institutional money flows.
The total net assets of the Bitcoin ETF have fallen to $114.99 billion, significantly lower than its summer peak. This development is in line with the spot price, with Bitcoin hovering around $88,351 and failing to regain the $90,000 mark despite several attempts to break through.
The most significant inflow occurred in mid-October, but since then, outflows have dominated the scattered green rallies. This typically reduces the upward momentum during rallies, as ETFs are a crucial supply-absorbing channel in the 2025 cycle.
Ethereum ETFs have seen short-term inflows, but the overall trend remains weak.
Despite the Ethereum ETF seeing an inflow of $84.59 million today, the 30-day SMA trend remains negative, indicating that the buying pressure is not yet strong enough for a sustainable reversal.
The Ethereum ETF recorded net inflows of $84.59 million today, but this single data point is part of a broader context of weeks of outflows. With the 30-day SMA still Peg below zero, the sporadic inflows often reflect tactical trading rather than a clear return of institutional investors.
The total AUM of Ethereum ETFs is currently around $18.20 billion, down from the high set during the strong inflow period in August. At the same time, ETH is trading around $2,976 and continues its downward trend as ETF demand weakens and liquidation thins.
Tight liquidation and year-end risk reductions are dominating the market.
on-chain indicators and ETFs are converging on the fact that risk appetite is declining, Capital are reducing their holdings, and the summer inflow cycle has been almost completely unraveled.
- The Capital allocator has reduced its exposure level.
- Risk appetite remains weak.
- The strong summer inflow cycle has completely "unwinded".
The "cooling down" momentum is often associated with year-end portfolio rebalancing by funds, less favorable macroeconomic liquidation conditions, and the fact that the euphoric effect following the ETF approval phase is no longer strong enough to sustain inflows as before.
The current environment resembles historical periods when institutional investors temporarily stepped back, waiting for volatility to stabilize before repositioning. With ETFs set to play a Vai as crypto's primary liquidation channel in 2025, a prolonged lack of positive inflows could easily lead to sideways movement or a slight decline in the market.
This has direct implications for the current prices of BTC and ETH .
With prolonged outflows and declining AUM , the upward momentum of BTC and ETH is limited and may trade sideways until ETF inflows improve.
Both Bitcoin and Ethereum remain sensitive to ETF inflows because this mechanism converts institutional demand into spot buying. When outflows persist and AUM shrinks in both product groups, the probability of a sustained upward trend is generally lower, unless there are strong supporting variables from macroeconomic or policy factors.
- The upward momentum in prices remains limited.
- Prices may remain stable until demand returns.
- Positive future catalysts (macro or legal) could trigger a return of inflows.
Current data leans toward a "cooling" scenario rather than a structural rejection. However, if ETFs remain a key liquidation driver, a return to positive cash flow will be crucial for a stronger recovery, especially as we head into early 2026.
_toggle conclusion based on data
The current ETF outflow resembles temporary institutional risk reduction more than a market exit, but for BTC and ETH to regain a strong upward trend, the market likely needs a sustained chain of positive inflows to return.
Frequently Asked Questions
Why have Bitcoin ETF and Ethereum ETF inflows been negative for several weeks?
Data suggests that Capital allocators are being more cautious ahead of the year-end, a combination of portfolio rebalancing and unfavorable liquidation conditions, causing outflows to outweigh inflows for an extended period.
What does a net outflow of $142.19 million from a Bitcoin ETF mean?
This indicates that Capital outflow pressure remains present in the short term and could weaken the upward momentum of prices, especially with successive outflow sessions and a decrease in AUM .
Will the $84.59 million Ethereum ETF inflow be enough to reverse the trend?
That's not enough, because the 30-day SMA for ETH ETF inflows is still negative. A few isolated inflow sessions are usually insufficient to confirm a reversal without a sustained chain of positive inflows.
How do ETF inflows affect the prices of BTC and ETH?
ETFs are a channel that creates large-scale demand, so inflows usually support prices, while prolonged outflows often cause prices to move sideways or decline due to weakened liquidation and reduced buying power.
