In a fresh update, crypto ETFs recorded mixed performance last week as investors pulled funds from Bitcoin and Ethereum products while continuing to allocate capital to several altcoin ETFs.
Bitcoin and Ethereum ETFs Extend Outflow Streak
According to data from SoSoValue, spot Bitcoin ETFs recorded $227 million in net outflows between June 14 and June 18. The withdrawal marked the sixth consecutive week of outflows for the products. Bitcoin ETFs posted the largest losses among major crypto investment vehicles last week. Spot Ethereum ETFs also remained under pressure, recording $10.05 million in net outflows. Like Bitcoin funds, Ethereum ETFs have now posted six straight weeks of outflows.
The continued withdrawals suggest that many investors remain cautious about the near-term outlook for Bitcoin and Ethereum. Some market participants appear to be reducing risk exposure amid ongoing uncertainty weighing on the broader crypto market.
SOL, XRP, and HYPE ETFs Buck the Trend
Meanwhile, amid Bitcoin and Ethereum’s consecutive outflow streaks, investment capital continued to flow into several altcoin ETFs. From June 14 to June 18, Spot SOL ETFs posted $7.11 million in net inflows. Spot XRP ETFs added $10.66 million, while HYPE ETFs led all crypto funds with $27.95 million in net inflows.
The positive performance suggests that some investors are shifting capital toward alternative crypto assets. Strong inflows into XRP and HYPE products indicate growing confidence in projects outside the traditional Bitcoin and Ethereum market.
Mystery Trader Bets Over $6.6M Against Bitcoin, Solana, and Ethereum
Interestingly, blockchain analytics platform Onchain Lens recently revealed that a newly created wallet deposited 6.68 million USDC into Hyperliquid and opened a 20x-leveraged short position on 430.64 BTC, worth approximately $27 million.
The wallet also opened short positions on 4,280 ETH, valued at around $7 million, and 181,245 SOL, worth roughly $13 million. The sizeable bearish bets highlight growing caution among some traders and suggest expectations of further downside across major cryptocurrencies in the near term. The positions also reflect the broader risk-off sentiment in the market, which has contributed to significant capital outflows from both Bitcoin and Ethereum ETFs in recent weeks.
Altcoin ETF Inflows Fail to Spark Broader Market Recovery
Meanwhile, mirroring the mixed ETF flows, the broader crypto market has remained fragile, with some assets posting modest gains while others continue to struggle. XRP is down 1.1% over the past 24 hours, trading around the $1.13 mark, while HYPE has fallen 0.4% to the $67 region during the same period. In contrast, SOL has bucked the broader trend, posting a 1.3% gain above $73.
The uneven price action highlights the cautious sentiment that continues to dominate the market. Despite attracting fresh institutional inflows, the altcoins have struggled to convert investor interest into sustained upward momentum.
Interestingly, the crypto market has also remained subdued despite a recent decline in oil prices. Oil retreated after peace talks between the United States and Iran showed signs of progress, easing concerns over potential disruptions to global energy supplies. Lower oil prices typically support risk assets by reducing inflation concerns and improving investor sentiment. However, cryptocurrencies have yet to stage a meaningful recovery, suggesting that investors are still taking a wait-and-see approach despite the improving macroeconomic backdrop.
Josiah Oluwadare
The CoinRemark Team
