TLDR
Over the past week, net outflows from US spot Bitcoin ETFs were led primarily by BlackRocks IBIT, with sizable redemptions also seen in Fidelitys FBTC, Ark 21Shares ARKB, and Grayscales GBTC, depending on the day.
- On 26 Dec 2025, IBIT posted about $192.61 million in outflows, with FBTC at $74.38 million and GBTC at $8.89 million (market update).
- On 29 Dec 2025, IBIT again led (~$77.9 million) while ARKB saw ~$6.7 million out, and FBTC had a small inflow (~$5.7 million) (daily flows).
- On 31 Dec 2025, outflows were broad: IBIT $99.05 million, ARKB $76.53 million, GBTC $69.09 million, FBTC $46.58 million (session breakdown).
Deep Dive
1. IBIT Dominance
BlackRocks iShares Bitcoin Trust (IBIT) repeatedly topped the daily outflow leaderboard into year?end.
- On 26 Dec 2025, IBITs net outflows were about $192.61 million, the days largest print among BTC ETFs (market update).
- On 29 Dec 2025, IBIT again led with roughly $77.9 million leaving the fund (daily flows).
Larger funds can amplify market tone when flows turn negative; monitoring IBITs daily prints helps gauge institutional risk appetite.
2. ARKB, FBTC, GBTC Rotation
The mid?week pattern showed rotation across ARKB, FBTC, and GBTC, with varying roles day to day.
- 31 Dec 2025 saw broad outflows: ARKB $76.53 million, GBTC $69.09 million, FBTC $46.58 million, alongside IBITs $99.05 million (session breakdown).
- Earlier, on 26 Dec 2025, FBTCs outflow was $74.38 million, while GBTCs was $8.89 million (market update).
Flows were not isolated to a single issuer; breadth of outflows points to widespread year?end de?risking rather than a product?specific issue.
3. BTCO And Mixed Prints
Not every day featured the same leader; some sessions saw different funds top the outflow list and even mixed flows across issuers.
- On 29 Dec 2025, Invescos BTCO led the outflows with about $10.41 million, while IBIT and ARKB followed and FBTC posted a small inflow (~$5.7 million) (daily recap).
- These mixed prints reflect thinning holiday liquidity and tactical reallocations near calendar boundaries (daily flows).
Day?to?day leadership can flip; watching multiple issuers helps avoid overfitting to one funds flow signal.
Conclusion
The recent outflow stretch was led most often by IBIT, with ARKB, FBTC, and GBTC also showing sizable redemptions on key sessions, and BTCO occasionally topping the list. The breadth and rotation of outflows suggest year?end positioning and liquidity effects more than issuer?specific problems, so monitoring daily prints across the basket remains the most reliable way to track sentiment.
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