2025-12-26 17:20:53

圣诞节前后，加密货币现货ETF市场陷入典型的节假日困境——流动性枯竭、机构观望情绪浓厚。

数据最直观。12月24日这个圣诞前最后交易日，比特币现货ETF出现了约1.75亿美元的净流出，以太坊ETF也没有幸免，净流出规模达5700万美元。主要卖方是那些头部机构：BlackRock的IBIT和Grayscale旗下的ETHE、GBTC成了这波减仓的主力。这不是孤立事件，而是近期机构持续减仓的延续，反映出假期到来时风险规避心理的上升。

但市场的故事从不是单线。与此同时，XRP现货ETF却吸引了数百万美元的资金涌入，资产规模已经突破12.5亿美元大关。Solana ETF的表现也不错，小额资金持续流入，累计流入已超过7亿美元。这明显是一场资金轮动——大机构从BTC和ETH这类"大蓝筹"中抽身，转而布局新兴的山寨币赛道。

风险因素也值得重视。今日有价值236亿美元的比特币期权即将到期，市场分析普遍认为到期后波动性会明显放大，当前的价格均衡可能被打破。

看全年表现：2025年加密ETF累计流入超过340亿美元，但年末市场疲软让投资者的回报预期大打折扣。假期后流动性的恢复可能成为关键的转折点，而机构对山寨币配置的兴趣也在逐步升温。

BTC-0.18%

ETH-0.6%

XRP-0.91%

SOL-0.73%

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

10 Likes

Reward
10
6
Repost
Share

Comment

0/400

RugpullAlertOfficer

· 2h ago

Big institutions harvest profits before holidays and then switch to trading altcoins. I'm tired of this routine.

View OriginalReply0

GweiTooHigh

· 2h ago

Large institutions are once again rotating funds, selling off BTC and ETH to buy altcoins. This is how the New Year market trend begins.

View OriginalReply0

SillyWhale

· 2h ago

Blackstone reduces holdings without fear, XRP is racing, the real celebration starts after the holiday

View OriginalReply0

MetaverseMortgage

· 3h ago

Big institutions are starting to cut the leeks again, pushing BTC and ETH out, then turning to play with XRP and SOL. I can see through this routine with my eyes closed.

View OriginalReply0

GasGuru

· 3h ago

Large institutions are playing the "bottom-fishing" game with fake coins during Christmas, is BTC being abandoned? BlackRock is also reducing its positions, is this really a sign of a decline... Liquidity exhaustion is just an excuse; frankly, they still favor XRP. 236 billion options explosion... this wave will have volatility. Institutional tactics: clear out major coins before the holiday, grab small coins after the holiday; retail investors can only watch. Wait, does XRP really have 1.25 billion in inflows? That seems a bit exaggerated. End-of-year volume shrinking is normal; let's see after the holiday.

View OriginalReply0

GasDevourer

· 3h ago

Major institutions are on holiday for Christmas, but retail investors still have to watch the market BlackRock is unloading, while small coins are bleeding out. This rotation is playing quite aggressively $23.6 billion in Bitcoin options are about to explode. Don't say I didn't warn you XRP and SOL are bleeding heavily, it feels like this wave is institutions dumping on retail investors Liquidity returning after the holiday will be the real battleground. Entering now makes you a bagholder BTC and ETH keep breaking down, it feels like this time is truly different The obvious reduction in institutional positions indicates they know something we don't, while we're kept in the dark Options volatility is spiking as expiration approaches. Holding coins now is a bit risky Over 34 billion inflows this year, but the end-of-year rally is so weak, it's really disappointing Why is XRP attracting so much money? It feels like someone is playing with stories

View OriginalReply0