Investors Withdraw $1.42B From Bitcoin ETFs; HYPE, XRP Gain

Investors withdrew $1.42 billion from bitcoin exchange-traded funds in the week ended May 29. Ether spot ETFs recorded $241 million in net outflows over the same five trading days, leaving combined crypto ETF flows at more than $1.6 billion in net outflows for the period.

From May 25 through May 29, BlackRock’s IBIT led weekly bitcoin ETF redemptions, losing $966.3 million. Grayscale’s GBTC had $175.2 million in outflows and Fidelity’s FBTC reported $169.1 million in withdrawals. Bitwise’s BITB fell by $46.3 million, Ark & 21Shares’ ARKB by $24.7 million, Morgan Stanley’s MSBT by $1 million, and the Grayscale Bitcoin Mini Trust declined by $33 million.

For the month of May, bitcoin ETFs posted $2.43 billion in net outflows. IBIT accounted for $1.41 billion of the monthly redemptions. ARKB saw $314.1 million leave in May, GBTC lost $330.3 million and FBTC shed $274 million. Morgan Stanley’s MSBT reported a net inflow of $68.9 million for the month.

Ether spot ETFs recorded $241 million in weekly net outflows. BlackRock’s ETHA registered the largest daily withdrawals across Wednesday, Thursday and Friday. Fidelity’s FETH and Grayscale’s ether products also experienced net redemptions for the week. On Friday, some funds posted inflows-Fidelity’s FETH, BlackRock’s ETHB, 21Shares’ TETH and Bitwise’s ETHW-which reduced but did not reverse the weekly net outflow.

Smaller altcoin ETFs attracted inflows during the week. HYPE spot ETFs collected $26 million for the period and have drawn about $100 million since launch. XRP spot ETFs brought in $15.2 million across products from Bitwise, Canary, Franklin and Grayscale. Solana spot ETFs added $2.4 million during the week.

The weekly data show redemptions concentrated in large-cap bitcoin and ether funds while a group of newer and smaller-cap altcoin ETFs recorded net inflows. The reported figures reflect fund-level flows for the specified week and the month of May.