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U.S. spot Bitcoin ETFs have logged 13 straight days of outflows and shed $4.37 billion since mid-May. Total assets fell from $104.29 billion to $82.83 billion as Bitcoin, Ether, Solana, and XRP funds weakened together.
BlackRock’s IBIT and Fidelity’s FBTC led the redemptions during the latest streak. The wider crypto ETF market also turned lower as prices slipped across major digital assets. Hyperliquid’s HYPE ETFs remain the only major crypto ETF category attracting fresh money. Grayscale also launched HYPG to compete for investor interest during the slump.
That shift shows how fast ETF demand can change when market conditions tighten.
ETF redemptions force authorized participants to sell the underlying bitcoin or ether. They then return cash to investors who leave the fund. Multiple reports also cite a $609.3 million redemption session and describe it as a mechanics-driven figure. It says the number shows how much institutional money came back in one trading session.
A separate example puts a $519.1 million outflow in context relative to more than $50 billion in early ETF assets. The point is that a single large day does not constitute a final verdict on Bitcoin or Ether.
Stronger-than-expected U.S. employment data pushed rate-cut expectations into late 2026. That backdrop supports a higher-for-longer Federal Reserve stance and weakens appetite for non-yielding assets.
Macro funds often reduce Bitcoin exposure when risk models turn cautious. Bloomberg analyst Eric Balchunas also notes that large outflows can reflect portfolio rebalancing rather than direct hostility toward bitcoin.
Hyblock Capital has linked some earlier outflows to hedge funds closing cash-and-carry trades during volatile periods. Meanwhile, on-chain data shows a record number of small-balance wallets continuing to accumulate.
Spot Ether ETFs also posted $90.2 million in outflows in the session described, with BlackRock’s ETHA losing $44.3 million. That pressure matters as Ether ETFs have less institutional depth than Bitcoin products.
Read More: Bitcoin ETF Outflows Deepen as Hyperliquid HYPE Defies Crypto Selloff
In the bull case, ETF flows turn positive again as rate-cut expectations improve. In the base case, outflows slow, and Bitcoin holds support in the mid-to-upper $60,000 range.
In the bear case, macro conditions worsen, and institutional de-risking deepens the correction. Daily ETF flow data from CoinGlass or SoSoValue gives the clearest read on whether the trend is strengthening or fading.
U.S. spot bitcoin ETFs recorded 13 consecutive days of outflows, while ether, Solana, and XRP ETFs also saw capital leave. Rising macroeconomic pressure and delayed rate-cut expectations drove institutional rebalancing. Market participants now closely watch ETF flow data to assess whether redemptions continue or demand begins to recover.
