BTC, ETH, SOL and XRP ETFs bleed $4.4 billion over 13 sessions, only HYPE in green
U.S. crypto ETFs kept bleeding money as bitcoin, ether, solana and XRP funds all saw redemptions. Hyperliquid-linked HYPE funds were the lone bright spot.
Intelligence analysis by GPT-5.4 Mini
The article says the selloff in U.S. spot bitcoin ETFs has widened into ether, solana and XRP products, with $4.37 billion leaving bitcoin funds in 13 straight sessions. Hyperliquid-linked HYPE ETFs are still attracting fresh money, even as Citi says negative ETF flows are weighing on sentiment.
Crypto funds are like buckets where investors pour money in or take money out. Lately, many big buckets for bitcoin, ether, solana and XRP have been leaking, while one smaller bucket tied to HYPE is still getting filled.
Analysis
Outflows spread across major crypto ETFs
U.S. spot bitcoin ETFs extended their losing streak to 13 straight sessions on Wednesday, with another $396.60 million leaving the category. Since mid-May, bitcoin funds have lost $4.37 billion, and total assets have dropped from $104.29 billion on May 15 to $82.83 billion on Wednesday.
BlackRock’s IBIT led the day’s bitcoin redemptions with $342.34 million, while Fidelity’s FBTC lost $54.26 million. The article says bitcoin was trading around $65,462, down from above $71,000 at the start of the week, and that bitcoin ETF assets now equal 6.36% of bitcoin’s circulating market cap, down from above 7% at the May peak.
Altcoins followed bitcoin lower
Ether ETFs also turned negative on the day, losing $52.94 million, with BlackRock’s ETHA accounting for nearly all of that. Solana funds lost $12.74 million, led by Bitwise’s BSOL, and XRP funds shed $5.34 million. The piece says these categories have now joined bitcoin and ether in multiple consecutive sessions of net outflows, reversing earlier altcoin ETF inflows.
HYPE remains the exception
Hyperliquid’s spot ETF complex was the only major crypto fund group still drawing net new money. 21Shares’ THYP added another $2.99 million, bringing cumulative HYPE ETF inflows to $139.51 million since launch on May 12 and total net assets to $192.01 million. Grayscale also launched a HYPE product on Wednesday, positioning it as the lowest-fee U.S. spot HYPE vehicle.
Citi told clients that spot bitcoin ETF flows explain roughly 45% of weekly BTC price moves and said sentiment may remain weak while ETF flows stay negative and the U.S. crypto market structure bill remains stalled.
Key points
- U.S. spot bitcoin ETFs have had 13 straight sessions of outflows, totaling $4.37 billion since mid-May.
- Ether, solana and XRP ETFs also moved into net redemptions, broadening the selloff across crypto funds.
- BlackRock’s IBIT and ETHA were among the biggest daily losers in their categories.
- Hyperliquid-linked HYPE ETFs were the only major crypto fund group still seeing net inflows.
- Citi said spot bitcoin ETF flows are an important gauge of adoption and sentiment.
If HYPE inflows keep holding up, the category could keep attracting attention even while larger crypto funds are weak. A reversal in ETF flows would also support the article’s view that fund demand is an important signal for broader crypto sentiment.
If the outflows continue, the drop in ETF assets could keep pressuring prices and sentiment across the whole crypto market. The article also warns that weak ETF flows may stay a drag while the U.S. market structure bill remains stalled.
