The outflow of funds from US crypto ETFs continues. US Bitcoin spot ETFs have seen net outflows for 13 consecutive trading days, totaling $4.37 billion. As cryptocurrency prices decline, Ethereum, Solana, and XRP-related funds have also joined the redemption trend.
Bitcoin ETFs have seen outflows for 13 consecutive days.
According to SoSoValue data, US Bitcoin spot ETFs saw a net outflow of $396.6 million on Wednesday. BlackRock's IBIT saw an outflow of $342.3 million, while Fidelity's FBTC saw an outflow of $54.26 million, making them the main sources of capital outflow.
Driven by both capital outflows and falling cryptocurrency prices, the total assets of U.S. Bitcoin spot ETFs have fallen from $104.29 billion on May 15 to $82.83 billion on Wednesday, a decrease of $21.46 billion in about three weeks.
- Net outflow of $396.6 million on Wednesday.
- A total of $4.37 billion flowed out over 13 trading days.
- Total assets decreased to US$82.83 billion.
Ethereum and altcoin funds weaken
Fund outflows are no longer limited to Bitcoin products. Ethereum ETFs saw a total outflow of $52.94 million on Wednesday, with BlackRock ETHA accounting for $51.58 million of the outflow, almost the entire amount.
Solana Fund saw an outflow of $12.74 million that day, while Bitwise's BSOL saw an outflow of $11.56 million. XRP Fund saw an outflow of $5.34 million. The report noted that both of these asset classes have experienced net outflows for several consecutive trading days.
HYPE products still have funds flowing in.
While major crypto ETFs are generally under pressure, HYPE products related to Hyperliquid remain one of the few categories maintaining net inflows. Grayscale launched its own HYPE product, HYPG, on Wednesday, competing with Bitwise's BHYP and 21Shares' THYP at lower fees.
Citigroup stated that spot Bitcoin ETF inflows account for approximately 45% of Bitcoin's weekly price volatility. The bank believes that as long as ETF inflows remain negative, coupled with the stalled progress of the US crypto market structure bill, market sentiment is unlikely to improve significantly.
