Bitcoin, Ethereum, Solana and XRP ETFs See $4.4 Billion Outflows as HYPE Funds Defy Market Weakness

U.S. crypto ETFs continued to face heavy selling pressure on June 4, with spot Bitcoin ETFs recording their 13th consecutive day of net outflows. Since mid-May, investors have withdrawn approximately $4.37 billion from Bitcoin funds, reflecting growing caution amid a broader cryptocurrency market decline.

Data shows total assets held by U.S. spot Bitcoin ETFs dropped from $104.29 billion on May 15 to $82.83 billion, a decline of more than $21 billion in less than three weeks. Falling Bitcoin prices and continued investor withdrawals have both contributed to the sharp decrease.

BlackRock and Fidelity Lead Bitcoin ETF Redemptions

BlackRock’s IBIT, the largest spot Bitcoin ETF by assets, recorded $342.34 million in outflows on Wednesday alone. Fidelity’s FBTC followed with $54.26 million in redemptions. During the same period, Bitcoin traded near $65,462, down significantly from above $71,000 earlier in the week.

Bitcoin ETF assets now account for 6.36% of Bitcoin’s circulating market value, down from more than 7% during May’s peak.

Ethereum, Solana and XRP ETFs Join the Downtrend

The selling pressure was not limited to Bitcoin. Spot Ethereum ETFs reported combined outflows of $52.94 million, with BlackRock’s ETHA responsible for $51.58 million of that total. Ether also fell below the $1,900 mark as investors reduced exposure.

These figures mark a shift in market behavior, as Solana and XRP products had previously attracted steady investor interest while Bitcoin funds experienced redemptions.

HYPE ETFs Stand Out With Continued Inflows

Hyperliquid-linked HYPE ETFs remained the only major crypto ETF category attracting fresh capital. 21Shares’ THYP added another $2.99 million in net inflows, bringing total inflows since its May 12 launch to $139.51 million. Assets under management have now reached $192.01 million.

The positive momentum also attracted new competition. Grayscale launched its HYPG fund on Wednesday, promoting it as a lower-cost option compared with existing HYPE ETF products.

Market analysts note that ETF flows remain a key indicator of investor confidence.