Altcoin ETFs Gain Momentum as Bitcoin Funds Post Sixth Weekly Outflow
The market had one less trading day for the week due to the U.S. Juneteenth holiday, but the message was not hard to read.
Bitcoin exchange-traded funds (ETFs) remained under pressure, extending their weekly outflow streak to six consecutive weeks. Ether funds were nearly flat, but still negative. At the same time, investors continued to add capital to newer and more targeted crypto ETF products, with $HYPE leading the way.
Bitcoin and Ether Remain Under Pressure
Bitcoin spot ETFs recorded $226.8 million in net outflows for the week. The selling was not as severe as earlier in June, but it was enough to keep the category in a clear downtrend.
Grayscale’s GBTC was the largest drag, losing $156.3 million. Ark & 21Shares’ ARKB followed with $50.1 million in outflows, while Blackrock’s IBIT shed $44.7 million. Other redemptions came from Vaneck’s HODL, which lost $14.6 million, Invesco’s BTCO with $6.4 million, and Franklin’s EZBC with $5.8 million.
There were offsets. Morgan Stanley’s MSBT added $25.8 million, Grayscale’s Bitcoin Mini Trust brought in $15 million, and Fidelity’s FBTC gained $9.6 million. But those inflows could not fully repair the week’s damage.
The wider backdrop remains difficult. According to Galaxy Research, U.S. spot bitcoin ETFs posted $6.35 billion in net outflows over the past 30 days, the largest rolling 30-day outflow on record across 582 tracked windows. That points to a sustained institutional pullback, not just a few weak sessions.
Ether ETFs also finished the week in negative territory, though only slightly. The category recorded $10 million in net outflows. Monday and Tuesday offered some support, but redemptions later in the week erased much of the early strength.
The result was not a collapse. It was more of a stall. Ether funds are no longer facing the same scale of pressure seen in prior weeks, but they have yet to rebuild steady momentum.
$HYPE Leads Altcoin Demand as $XRP and Solana Stay Positive
The strongest flow story came from $HYPE ETFs.
The category attracted $27.9 million in net inflows for the week, far outpacing $XRP and solana products. It also continued to build on a strong first month of trading.
Spot $HYPE ETFs have now drawn about $153 million in net inflows and generated nearly $900 million in cumulative trading volume since launch. The three products currently on the market, 21Shares’ THYP, Bitwise’s BHYP, and Grayscale’s HYPG, all hold $HYPE directly and distribute staking rewards to investors.
BHYP and THYP have accounted for most of the trading activity. Roughly 434 million $HYPE, or 45% of the stakeable supply, is currently staked.
$XRP ETFs also ended the week in the green, adding $10.7 million. Solana ETFs brought in $7.1 million, helped by steady demand across the shortened trading week.
The week’s flows showed a market that is still cautious, but no longer uniform. Bitcoin remains the weak point, ether is trying to stabilize, and altcoin ETFs are attracting more selective capital. For now, institutional demand has not vanished. It has narrowed.