Mild Outflow from Bitcoin ETFs
Despite a 46% decline in Bitcoin's price from its peak, recent data shows net outflows from Bitcoin ETFs amounted to only $8.5 billion, a relatively small portion of total assets under management, indicating limited selling pressure.
Neutral Positioning Dominates
Analysis reveals that the majority of ETF holdings are still controlled by market makers and arbitrage-focused hedge funds, whose positions are largely hedged or market neutral rather than directional bets on Bitcoin's price.
Institutional Holders Remain Steady
Long-term institutional investors continue to hold with low turnover and extended investment horizons, signaling ongoing confidence in Bitcoin's long-term value.
- Market makers reduced exposure by $1.6–2.4 billion in Q4 2025
- IBIT's assets still 55–75% held by professional traders
- Market-neutral strategies dominate ETF ownership structure