A 13-session redemption wave has drained $4.4 billion from spot crypto ETFs tracking Bitcoin, Ethereum, Solana, and XRP, with BlackRock's IBIT alone shedding $342 million on Wednesday. The sell-off spans all major asset categories, as institutional and retail investors pull capital from products that had attracted significant inflows earlier in the cycle. Ether, Solana, and XRP funds joined the outflow trend, deepening broader market concerns about near-term appetite for regulated crypto exposure. The sole exception is Hyperliquid's HYPE-linked ETF products, which continued to attract net new money despite the wider retreat. The divergence suggests selective investor interest in newer, higher-beta assets even as established blue-chip crypto funds face sustained pressure. Analysts are watching whether the outflow streak signals a structural shift or a temporary repositioning ahead of potential macro catalysts.
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