After a week of consistent outflows, spot Bitcoin ETFs experienced a significant turnaround on December 30, 2025, with a net inflow of $355 million. This influx signals a potential shift in investor sentiment and comes amid signs of improving global liquidity.
The positive reversal was spearheaded by BlackRock's iShares Bitcoin Trust ETF (IBIT), which recorded a $144 million inflow on Monday. Other ETFs also contributed to the overall positive trend, including the Ark 21Shares Bitcoin ETF (ARKB) with $109.56 million and Fidelity's Wise Origin Bitcoin Fund (FBTC) with $78.59 million. Bitwise's Bitcoin ETF (BITB) added $13.87 million, while Grayscale's Bitcoin Trust ETF (GBTC) and VanEck's Bitcoin ETF (HODL) saw smaller inflows of $4.28 million and $4.98 million, respectively.
This resurgence follows a seven-day period where spot Bitcoin ETFs saw approximately $1.12 billion in cumulative net outflows. The largest single-day outflow during that period occurred on December 26, with about $275.9 million leaving the funds. The overall trend in December had been negative, with roughly $744 million in outflows as investors reacted to declining prices and thinner year-end liquidity.
The recent inflows into Bitcoin ETFs aren't the only crypto ETFs seeing positive momentum. Ethereum spot ETFs also experienced a rebound, attracting $67.836 million in net inflows. Notably, all nine Ethereum ETFs reported zero outflows, reflecting strong investor confidence in Ethereum. Solana spot ETFs also saw inflows, though smaller in scale, with a net inflow of $5.21 million. The combined net inflow across Bitcoin, Ethereum, and Solana ETFs reached over $428 million.
Some analysts believe the change in momentum is linked to improving global liquidity conditions. Arthur Hayes, in a post on X, suggested that global dollar liquidity likely bottomed in November and has been gradually increasing since then, potentially favoring a renewed push in crypto markets. Crypto commentator Mister Crypto highlighted that global liquidity indicators are "going vertical," pointing to rising money supply measures across major economies.
The approval of spot Bitcoin ETFs has been previously linked to improved market liquidity for Bitcoin. Crypto market data provider Kaiko reported that Bitcoin ETFs grow the investor base and enable intraday arbitrage between the ETF and the underlying asset, both of which increase liquidity. Market makers using Bitcoin ETFs as hedging instruments could also increase liquidity.
As of December 30, 2025, the total net asset value of Bitcoin spot ETFs stands at $114.439 billion, with an ETF net asset ratio of 6.52% relative to Bitcoin's total market capitalization. Cumulative net inflows have reached $56.961 billion. BlackRock, managing $12.5T as of June 30, 2025, leverages a multi-year technology integration developed with Coinbase Prime, the world's largest institutional digital asset custodian, for its IBIT ETF.
