Bitcoin, Ether ETFs Lose $350M; XRP and HYPE See Inflows
Bitcoin ETFs shed $228.88M and ether ETFs $121.35M on May 28, marking a ninth and 13th straight day of outflows; XRP, HYPE and Solana ETFs posted modest inflows.
Bitcoin and ether exchange-traded funds recorded combined net outflows of $350.23 million on May 28. Bitcoin ETFs lost $228.88 million for a ninth straight day of redemptions, while ether products showed $121.35 million in net outflows, the 13th consecutive session of withdrawals for the category. Smaller altcoin ETFs, including XRP, HYPE and Solana, logged modest inflows the same day.
Redemptions were concentrated in the largest bitcoin funds. BlackRock’s iShares Bitcoin Trust (IBIT) led outflows with $177.94 million redeemed. Grayscale’s GBTC saw $26.19 million leave, Fidelity’s FBTC lost $19.16 million and Valkyrie’s BRRR recorded $5.59 million in outflows. Total value traded in bitcoin ETFs on the day was $2.36 billion and total net assets in the category closed at $94.25 billion. Week-to-date redemptions for the bitcoin group were about $1.3 billion.
Ether ETFs experienced larger pressure in percentage terms. BlackRock’s ETHA had the largest single outflow among ether products at $80.39 million. Grayscale’s ETHE posted $21.36 million in redemptions, Fidelity’s FETH saw $15.08 million exit, and Grayscale’s Ether Mini Trust recorded $7.65 million in outflows. One ether product, BlackRock’s ETHB, recorded a $3.11 million inflow. Ether ETF trading volume was $691.34 million and total net assets in the category ended the day at $11.30 billion.
Smaller altcoin funds attracted selective demand. HYPE ETFs added $1.72 million in net inflows, driven by Bitwise’s BHYP ($1.02 million) and 21Shares’ THYP ($700,240); HYPE funds traded $34.76 million and had $122.20 million in net assets. Bitwise’s XRP product accounted for the entire $1.77 million inflow into XRP ETFs; XRP ETFs traded $12.13 million and held $1.12 billion in assets. Fidelity’s Solana ETF (FSOL) recorded $484,370 in net inflows, with $50.32 million traded and $946.58 million in net assets.
On May 28, the combined net flows were $350.23 million out of bitcoin and ether funds versus inflows into selected altcoin ETFs of $3.97 million across HYPE, XRP and Solana.
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