IBIT Drives $484M Bitcoin ETF Outflows; XRP, HYPE Gain

On June 1, investors withdrew $483.76 million from U.S. bitcoin exchange-traded funds, marking an 11th consecutive day of net outflows. BlackRock’s iShares Bitcoin Trust (IBIT) recorded the largest single-day withdrawal at $440.29 million.

Fidelity’s FBTC lost $37.29 million and Ark & 21Shares’ ARKB saw $12.32 million leave. Morgan Stanley’s MSBT registered a $6.14 million inflow. Total bitcoin ETF value traded was $2.96 billion and total net assets in the group closed at $91.16 billion.

Ether-themed funds recorded $44.44 million in net outflows, the 15th straight trading day of withdrawals. BlackRock’s ETHA accounted for $34.97 million of the outflows and Fidelity’s FETH lost $9.47 million. Ether ETF trading value was $700.19 million and net assets stood at $11.14 billion.

Combined, bitcoin and ether ETFs lost $528.20 million on June 1.

Smaller altcoin-focused ETFs drew fresh capital. XRP ETFs added $4.13 million, all into Canary’s XRPC, which had $14.80 million in value traded and closed with $1.11 billion in net assets. Hyperliquid-themed HYPE ETFs took in $1.28 million via 21Shares’ THYP; the HYPE group’s value traded reached $60.42 million and net assets rose to $185.22 million. Solana ETFs showed no trading activity and ended the session with $931.56 million in net assets.

Can-Luca Köymen, investment strategist at Sygnum Bank, described the headline numbers as hiding a more nuanced market: “Selected altcoins and crypto sectors are moving on their own catalysts, including protocol revenue, buyback mechanics, and exposure to growth areas such as tokenised real-world assets and prediction markets.” Köymen added that “the recent weakness in bitcoin ETF demand may reflect short-term repositioning rather than a long-term pullback in institutional interest.”