Bitcoin and Ether ETFs Experience Significant Outflows Amid Selective Demand
- Bitcoin ETFs faced $213.85 million in net outflows, marking a four-day losing streak.
- Blackrock’s IBIT led the Bitcoin ETF withdrawals with $148.47 million leaving the fund.
- Ether ETFs recorded $35.59 million in net outflows, with Blackrock’s ETHA seeing $20.64 million in redemptions.
- HYPE ETFs attracted $2.78 million, with inflows into Bitwise’s BHYP and Grayscale’s HYPG.
- XRP ETFs added $1.19 million entirely through Franklin’s XRPZ.
The cryptocurrency ETF market continues to face challenges as investors pull back from major digital asset categories like Bitcoin and Ether, resulting in significant outflows totaling $249.44 million combined for these assets on June 10th alone.
Despite the overall defensive tone, selective demand persists as HYPE and XRP ETFs experience inflows, indicating that investors are not completely abandoning crypto exposure but are instead being more cautious in their allocations.
