BlackRock's IBIT shed another $342 million on Wednesday as ether, solana and XRP funds joined the redemption wave, leaving Hyperliquid's HYPE products as the only major crypto ETF category still pulling in net new money.

Bitcoin and ether ETFs closed the final week of May under sustained redemption pressure, with combined outflows of more than $1.6 billion.

Crypto ETFs opened June on a defensive note, with BTC funds losing nearly half a billion dollars and ether ETFs extending their outflow streak