Bitcoin Etfs Lose $825m In Five Days As Us Becomes 'biggest Seller'...

Bitcoin ETF performance remained negative on Christmas Eve as a short final US trading session produced another $175 million in net outflows.

Bitcoin (BTC) institutional outflows continued into Christmas as the US gained the title of biggest BTC seller.

Bitcoin ETF netflows stay negative for Christmas Eve as the institutional investment vehicles lose another $175 million.

Tax obligations and the quarterly options expiry are blamed for the poor performance.

Hope remains for a broad rebound after the holiday season.

Data from UK-based investment company Farside Investors confirmed that on Christmas Eve, net outflows from the US spot Bitcoin exchange-traded funds (ETFs) totaled over $175 million.

Bitcoin institutional capital saw no reason to wrap up for the holidays while Wall Street was still open this week.

Farside shows that a lengthy spate of selling continued right up until the last pre-Christmas US trading session ended, with net outflows at $175.3 million.

The tally is similar to that of the past five trading days, which each ended “in the red” for total net outflows of $825.7 million. Since Dec. 15, every trading day has been red except for Dec. 17, which managed to attract net inflows of $457.3 million.

Commenting, market participants attributed the ETFs’ weak performance to seasonality.

Source: CoinTelegraph