Key Takeaways
- Bitcoin ETFs lost $519.2M on June 2, led by Blackrock IBIT outflows of $388.6M.
- Ether ETFs saw a 16th straight outflow day, with Blackrock ETHA losing $44.3M.
- Solana and HYPE ETFs gained $9.7M combined, signaling selective investor demand.
Blackrock’s IBIT and ETHA Lead $609M in ETF Outflows Across Bitcoin and Ether
The crypto ETF market is still bleeding at the top.
Bitcoin funds took another hard hit on Tuesday, with investors pulling $519.19 million from the category. It was the 12th consecutive day of outflows, adding to a run that has sharply reduced assets across the largest spot bitcoin products.
Blackrock’s IBIT again led the retreat, recording a $388.64 million outflow. Grayscale’s GBTC followed with $83.51 million in withdrawals, while Fidelity’s FBTC lost $45.14 million. Ark & 21Shares’ ARKB rounded out the redemptions with a $16.67 million exit.
There was one pocket of demand. Morgan Stanley’s MSBT drew $14.77 million in inflows, but the gain was too small to alter the day’s direction. The value traded of bitcoin ETFs reached $3.93 billion, while total net assets dropped sharply to $85 billion.
Ether ETFs also remained under pressure, extending their outflow streak to 16 trading days. The category posted $90.15 million in net redemptions.
Blackrock’s ETHA led the exits with $44.27 million in outflows. Grayscale’s Ether Mini Trust saw $25.41 million leave, while Fidelity’s FETH shed $15.63 million. Grayscale’s ETHE recorded a $3.87 million outflow, and Blackrock’s ETHB lost $980,260. Total Ether ETF value traded stood at $912.81 million, with net assets closing at $10.53 billion.
The altcoin market told a different story.
Solana ETFs brought in $6.50 million, with the full inflow going to Grayscale’s GSOL. Total value traded reached $73.49 million, while net assets closed at $875.78 million. It was a modest gain, but in a market dominated by large bitcoin and ether exits, it stood out.
HYPE ETFs also stayed in positive territory, adding $3.15 million. The inflow was entirely domiciled in Bitwise’s BHYP. Total value traded was $53.41 million, and net assets closed at $180.01 million.
XRP ETFs saw no trading activity for the day. Net assets closed at $931.56 million.
Tuesday’s flows left little doubt about the near-term mood. Bitcoin and ether ETFs lost a combined $609.34 million, keeping the market tilted toward caution. Still, continued allocations to solana and HYPE suggest investors are not leaving crypto ETFs altogether. They are narrowing their exposure and choosing their entry points with more care for now.
