TL;DR
U.S. crypto ETFs just closed their thirteenth straight day of redemptions, marking the longest outflow streak since spot products hit the market. The pressure has been felt most in BTC, where demand has weakened steadily since mid-May and pushed cumulative withdrawals to roughly $4.4 billion. The broader market has followed the same path, with Ether, Solana, and XRP funds now firmly in the red as investors continue to pull capital from nearly every major category.
Spot BTC products shed another $396.60 million on Wednesday, deepening a slide that has drained $4.37 billion since May 15. Bitcoin itself has fallen sharply during the same stretch, dropping from above $71,000 to around $65,462 and, more broadly, sliding from roughly $80,000 to $63,400 since the streak began. The keyword Bitcoin has become a shorthand for the entire downturn, as ETF flows have increasingly dictated market sentiment.
BlackRock’s IBIT once again absorbed most of the damage, recording $342.34 million in redemptions on the day and roughly $3.3 billion across the full 13-session run. Fidelity’s FBTC followed with $54.26 million on Wednesday and about $456.6 million during the streak. Total net assets across all U.S. spot Bitcoin ETFs have fallen from $104.29 billion to $82.83 billion, a $21.46 billion slide driven by both redemptions and price weakness. Bitcoin ETF holdings now represent 6.36% of the asset’s circulating market cap.
Ether ETFs lost $52.94 million on Wednesday, with BlackRock’s ETHA responsible for nearly all of it. Solana funds shed $12.74 million, led by Bitwise’s BSOL, while XRP products saw $5.34 million in outflows. These categories had previously shown resilience, but they have now joined Bitcoin and Ether in consecutive daily redemptions.
Hyperliquid’s HYPE ETF complex was the only part of the market still attracting fresh capital. 21Shares’ THYP added $2.99 million, lifting cumulative inflows to $139.51 million and total assets to $192.01 million. The token gained 3.45% on a day when nearly everything else tied to Bitcoin and major altcoins traded lower. Grayscale also entered the segment with HYPG, pitching it as the lowest-fee HYPE option at a moment when every other category is bleeding.
