US-Listed Spot ETFs See Record $4.57 Billion Outflows Amid Bitcoin Price Decline in Late 2025
US-listed spot ETFs experienced record net outflows totaling $4.57 billion during November and December 2025, with $3.48 billion withdrawn in November and $1.09 billion in December. This marked the largest two-month outflow since these funds launched in January 2024, according to SoSoValue data.
During the same period, the price of Bitcoin dropped about 20%, correlating with the significant outflows from Bitcoin-related ETFs. Ether ETFs also faced substantial losses, with over $2 billion flowing out in these two months. However, XRP ETFs attracted inflows exceeding $1 billion, and Solana (SOL) ETFs gained more than $500 million in the same timeframe.
Analysts characterized these movements as a sign of market equilibrium, with weaker investors exiting near year-end and liquidity expected to return in January, rather than an indication of outright panic.
