BTC, ETH, SOL and XRP ETFs See $4.4B Exit Over 13 Sessions; HYPE Stands Alone With Inflows

Selling pressure in U.S. spot bitcoin ETFs is rippling across the crypto fund complex. Spot bitcoin products recorded another $396.60 million in net outflows on Wednesday, stretching the current redemption run to 13 consecutive sessions and lifting cumulative withdrawals since mid-May to about $4.37 billion. Ether, solana and XRP ETFs also posted net redemptions, while Hyperliquid's spot HYPE funds remained the only major category still attracting fresh capital. BlackRock's iShares Bitcoin Trust (IBIT), the largest spot bitcoin ETF by net assets, accounted for most of Wednesday's outflow with $342.34 million in redemptions, according to SoSoValue. Fidelity's FBTC followed with $54.26 million. IBIT and FBTC fell 2.76% and 2.65%, respectively, as bitcoin traded near $65,462 after starting the week above $71,000. Total net assets across all U.S. spot bitcoin ETFs declined to $82.83 billion on Wednesday from $104.29 billion on May 15, the last session before the outflow streak began. The roughly $21.46 billion slide over about three weeks reflects a mix of redemptions and bitcoin's price decline. Spot bitcoin ETF AUM now equals 6.36% of bitcoin's circulating market cap, down from above 7% at the May peak. Ether ETFs posted $52.94 million in net outflows on the day. BlackRock's ETHA made up nearly all of that at $51.58 million, and the fund fell 5.56% as ether traded below $1,900. Solana ETFs lost $12.74 million, led by Bitwise's BSOL with $11.56 million in outflows. XRP ETFs saw $5.34 million exit, with Bitwise's flagship XRP ETF taking the brunt. Both categories have now logged multiple consecutive sessions of net daily outflows, joining bitcoin and ether after a stretch in which altcoin ETFs had been drawing modest but steady retail interest. Hyperliquid's spot ETF lineup bucked the trend. 21Shares' THYP added $2.99 million, bringing cumulative net inflows to $139.51 million since its May 12 launch and lifting total net assets to $192.01 million. The HYPE token rose 3.45% to $73.39 even as broader crypto markets sold off. Grayscale introduced its own Hyperliquid product, HYPG, on Wednesday, marketing it as the lowest-fee U.S. spot HYPE option and pricing below Bitwise's BHYP and 21Shares' THYP on expense ratio. The launch comes as other major crypto ETF categories remain in net redemption. Citi said Tuesday that spot bitcoin ETF flows account for roughly 45% of weekly BTC price moves, calling flows the clearest gauge of investor adoption. The bank expects sentiment to stay muted as long as flows remain negative and a U.S. crypto market structure bill remains stalled.