Crypto ETF Outflow Streak Hits 13 Days as All Major Funds Except Hyperliquid Bleed
U.S. spot bitcoin ETFs saw another $396.60 million in outflows on Wednesday, extending the record outflow streak to 13 consecutive sessions and bringing total losses to $4.37 billion since mid-May. BlackRock's IBIT accounted for $342.34 million of the redemptions, while Fidelity's FBTC lost $54.26 million. Total net assets across all spot bitcoin ETFs have fallen from $104.29 billion on May 15 to $82.83 billion, a $21.46 billion drop driven by both redemptions and bitcoin's price decline from above $71,000 to around $65,462. The outflow wave has spread beyond bitcoin: ether ETFs lost $52.94 million (led by BlackRock's ETHA at $51.58 million), solana funds shed $12.74 million, and XRP funds lost $5.34 million. Hyperliquid's spot HYPE ETF was the only major crypto fund still attracting net inflows, with 21Shares' THYP taking in $2.99 million, bringing cumulative inflows to $139.51 million since launch. Grayscale launched its own HYPE product, HYPG, on Wednesday, offering the lowest expense ratio among U.S. spot HYPE ETFs. Citi noted that bitcoin ETF flows explain roughly 45% of weekly BTC price moves and expects sentiment to remain subdued as long as outflows continue and the U.S. crypto regulatory bill stalls.
Key facts
- U.S. spot bitcoin ETFs lost $396.60M on Wednesday, 13th straight day of outflows totaling $4.37B.
- BlackRock's IBIT saw $342.34M in redemptions; FBTC lost $54.26M.
- Ether ETFs shed $52.94M, Solana funds lost $12.74M, XRP funds down $5.34M.
- Hyperliquid HYPE ETF was only category with net inflows; 21Shares' THYP took in $2.99M.
- Grayscale launched HYPG, lowest-fee U.S. spot HYPE ETF, amid broad outflow trend.