Bitcoin ETFs Bleed as Fidelity’s Fund Leads $230 Million Retreat

Bitcoin exchange-traded funds have seen major outflows on December 15, marking the worst-performing day of December so far. In total, the collective of ETFs saw $313 million in withdrawals, the most outflows since November 20.

December had been mixed for regulated Bitcoin products, with red days usually offset by inflows, but not this time. While these funds registered a few negative days, performance would usually counterbalance with inflows on subsequent sessions.

Today's outflows coincide with an intraday nosedive by Bitcoin, which fell from nearly $90k to as low as $85,300 this afternoon. 

Fidelity Bitcoin ETF Led the Outflows

According to data from Farside Investors, Fidelity's Bitcoin ETF (FBTC) led the day with outflows. In total, the fund registered $230.1 million in withdrawals on December 15, representing roughly 73% of the total fund exits registered that date.

source: SoSoValue

Other BTC funds like Ark Invest (ARKB), Grayscale (GBTC), and VanEck (HODL) have also seen outflows --- but none as strong as Fidelity's. 

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Bitcoin Continues to Test the "Bottom"

Bitcoin's willingness to test its $85,000 support this month is certainly raising some red flags. Selling pressure tried to bring the price down from that zone at least three times over the last month, signaling that this 'bottom' could eventually crack. 

The market turned today as investors assessed the risks of the Yen carry trade unwinding,  under the notion that hawkish Japanese monetary policy could trigger a wave of deleveraging across speculative markets. 

Markets tend to price in these decisions ahead of time. For now, the $85,000 level remains the key line in the sand. A decisive break lower could open the door to $82,000 and even $78,000, while a rebound would reinforce the zone as a psychological anchor heading into year‑end.