Investors Pull $2.5B From BTC, ETH ETFs; HYPE, XRP Gain

U.S.-traded spot Bitcoin and Ethereum exchange-traded funds recorded roughly $2.5 billion in net outflows through June 18, while Hyperliquid-branded ETFs and XRP spot ETFs drew inflows of about $50 million and $24 million, respectively.

Bitcoin products accounted for most of the redemptions, with spot Bitcoin ETFs recording about $2.3 billion in net outflows through June 18. Ethereum ETFs lost about $200 million over the same period. Bitcoin funds posted negative flows in 11 of 14 trading sessions in June; on June 18 Bitcoin ETFs recorded a $90.7 million outflow and Ethereum ETFs shed about $12.8 million that day.

Hyperliquid-branded ETFs logged roughly $50 million of inflows in June. Including multiple sponsors’ products, cumulative HYPE inflows were near $189 million through June 18. The first U.S. spot Hyperliquid ETF from Bitwise began trading on May 14; the HYPE category has traded for fewer than 25 sessions. HYPE funds offer in-house staking and exposure tied to on-chain derivatives.

XRP spot ETFs added about $24 million through June 18, with roughly $10.6 million of that recorded in the June 14–18 trading week. Cumulative inflows into XRP ETFs reached about $1.5 billion and total net assets across the category were near $995 million. XRP ETFs logged two negative weeks since mid-March, including periods when Bitcoin and Ethereum ETFs saw outflows.

Altcoin category inflows were less than 3% of the $2.5 billion that left the Bitcoin and Ethereum categories during the period. By volume, Bitcoin ETF outflows exceeded HYPE inflows by roughly 46-to-1 and exceeded XRP inflows by roughly 96-to-1 through June 18.

On June 17 the Federal Reserve left its target federal funds rate range at 3.50%–3.75% and described inflation as still elevated relative to its 2% goal. A bank research note estimated that spot Bitcoin ETF flows account for about 45% of weekly Bitcoin price moves.

Whether HYPE and XRP inflows continue into July will depend in part on weekly flows into Bitcoin and Ethereum ETFs and on investor activity in the coming sessions.