According to Eric Balchunas, Bitcoin (BTC) fell 6% yesterday while spot Bitcoin ETFs still posted net inflows, bringing rolling 1-week flows to +$231 million, source: Eric Balchunas on X, Dec 2, 2025. According to Eric Balchunas, Fidelity carried a large share of the inflows, highlighting that ETF demand is broad across issuers, source: Eric Balchunas on X, Dec 2, 2025. According to Eric Balchunas, older investors are a key driver behind ETF demand in the current market, source: Eric Balchunas on X, Dec 2, 2025.

According to the source, US spot BTC ETFs recorded $1.23 billion in weekly net outflows and US spot ETH ETFs saw $311.8 million in net outflows. These reported outflows indicate net redemptions that typically require authorized participants to sell underlying BTC and ETH to meet cash needs, increasing realized sell pressure, per ETF creation and redemption mechanics disclosed by ETF issuers and the SEC. For traders, sustained weekly outflows reduce marginal buy-side demand from the ETF channel and can tighten on-exchange liquidity during US hours, per standard ETF flow accounting and primary market mechanics disclosed by ETF issuers and the SEC.