Bitcoin ETF Investors Blink as VanEck’s HODL Fund Sees Fresh Outflows
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VanEck’s flagship spot Bitcoin vehicle, the VanEck Bitcoin Trust Shs of Benef Interest (HODL), recorded net outflows of $8.05 million on December 26, 2025, as investors trimmed exposure after a volatile quarter for the underlying cryptocurrency. The redemption represents roughly 0.58% of the fund’s latest reported assets under management, which stand at about $1.39 billion, signaling a meaningful but not yet destabilizing shift in sentiment.
The related asset, BTC-USD, is currently trading around $87,952.01, having shed roughly 23.4% over the past three months amid profit-taking, shifting macro expectations, and renewed regulatory scrutiny across digital asset markets. Despite the sharp drawdown from recent highs, short-term market positioning appears more cautious than outright bearish, with the one-day technical outlook sitting at a muted Hold.
The latest outflows from HODL suggest some investors are locking in earlier gains or de-risking into year-end, using the liquid ETF wrapper as a convenient proxy for direct Bitcoin exposure. Still, with AUM comfortably above the $1 billion mark, the fund remains a sizable conduit for institutional and retail participation in the Bitcoin trade, and flows could reverse quickly if price momentum stabilizes or macro conditions turn more supportive for risk assets.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.

