MarketsShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailBTC, ETH, SOL, and XRP ETFs see $4.4 billion outflow over 13 days, HYPE ETFs stand out

BlackRock's IBIT experienced a further outflow of $342 million on Wednesday, as ether, solana, and XRP funds followed suit, leaving Hyperliquid's HYPE products as the sole major crypto ETF category attracting new investments.

By Shaurya Malwa Jun 4, 2026, 5:59 a.m. 2 min readMake preferred on

Key points:

  • U.S. spot bitcoin ETFs have experienced 13 consecutive days of outflows, losing $4.37 billion since mid-May, which reduced total assets from $104.29 billion to $82.83 billion.
  • Ether, solana, and XRP ETFs have joined bitcoin products in ongoing redemptions, reversing earlier inflows as cryptocurrency prices decrease.
  • The Hyperliquid-linked HYPE ETFs continue to see inflows, even as Grayscale introduces new competition, while Citi reports that the negative ETF flows are impacting market sentiment.

The outflow trend among bitcoin ETFs is affecting the wider crypto market.

On Wednesday, U.S. spot bitcoin funds lost an additional $396.60 million, marking a record streak of 13 days of outflows and a total decline of $4.37 billion since mid-May, with ether, solana, and XRP products also facing redemptions.

The spot HYPE ETF from Hyperliquid remains the only significant crypto fund attracting net new investments.

BlackRock's IBIT, the largest bitcoin ETF by net assets, accounted for most of the outflow on Wednesday, with redemptions totaling $342.34 million, as reported by SoSoValue. Fidelity's FBTC also saw a loss of $54.26 million.

Both funds decreased by 2.76% and 2.65%, respectively, as the price of bitcoin hovered around $65,462, down from over $71,000 at the start of the week.

Total net assets across all U.S. spot bitcoin ETFs have dropped from $104.29 billion on May 15, before the outflow streak began, to $82.83 billion on Wednesday.

This represents a loss of $21.46 billion in about three weeks, driven by redemptions and the decline in bitcoin's price. Currently, bitcoin ETF assets under management (AUM) account for 6.36% of bitcoin's circulating market cap, down from over 7% at the peak in May.

In addition, ether ETFs experienced a total loss of $52.94 million on the same day. BlackRock's ETHA was responsible for nearly all of this at $51.58 million, and the fund saw a 5.56% drop as ether traded below $1,900.

Solana funds lost $12.74 million on Wednesday, primarily led by Bitwise's BSOL with $11.56 million in outflows. XRP funds also decreased by $5.34 million, with Bitwise's main XRP ETF taking the brunt of the losses.

Both categories have now joined bitcoin and ether in experiencing multiple consecutive sessions of net daily outflows, marking the end of a period where altcoin ETFs had seen some retail interest while bitcoin funds were struggling.

Hyperliquid's spot ETF complex was the lone exception, with 21Shares' THYP gaining another $2.99 million, bringing cumulative HYPE ETF net inflows to $139.51 million since its launch on May 12, with total net assets reaching $192.01 million. The token increased by 3.45% to $73.39 on a day when the broader crypto market declined.

Grayscale introduced its own Hyperliquid product, HYPG, on Wednesday, marketing it as the lowest-fee U.S. spot HYPE option, aiming to compete with Bitwise's BHYP and 21Shares' THYP on expense ratios. This launch comes at a time when all other major crypto ETF categories are experiencing net redemptions.

Citi informed clients on Tuesday that the flows of spot bitcoin ETFs account for approximately 45% of weekly BTC price fluctuations, suggesting they are the best indicator of investor adoption. The bank predicts that sentiment will remain low as long as ETF flows remain negative and the U.S. crypto market structure legislation stalls.