Blackrock’s IBIT Sees $773 Million Weekly Exit as Bitcoin ETFs Lose $527 Million

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Bitcoin and ether funds closed the week in the red for an eighth straight week. Altcoin ETFs, however, showed more resilience, with XRP, Solana and HYPE products all attracting capital between June 29 and July 2.

Key Takeaways

Bitcoin exchange-traded funds (ETFs) lost $527M, with Blackrock’s IBIT driving an 8th straight weekly outflow. XRP, Solana and HYPE ETFs gained, showing selective demand beyond bitcoin.Blackrock’s ETHA helped ether recover, but ETFs still ended the week with $13.67M outflows.

XRP ETFs Add $17.2 Million as Ether ETFs End Week Down $13.7 Million

Smaller inflows also came through Invesco’s BTCO ($5.4 million), Franklin’s EZBC ($3.5 million), and Valkyrie’s BRRR ($1.7 million). Grayscale’s GBTC was the other weekly drag, losing $27.7 million.

First week in July sees outflow streak continue, albeit at a slower pace than in June. Source: Sosovalue

Ether ETFs also remained slightly negative, posting $13.67 million in net outflows for the week. That marked their eighth straight week of redemptions.

The category lost $30.04 million on Monday and $27.60 million on Tuesday, before turning positive later in the week. Ether ETFs added $14.89 million on Wednesday and $29.08 million on Thursday, helped by renewed demand for Blackrock’s ETHA. The late recovery narrowed the weekly loss, but it did not erase it.

Altcoins Tell a Stronger Story

Spot HYPE ETFs posted $4.32 million in net inflows. The category added $2.23 million on Monday, saw a rare $3.01 million outflow on Tuesday, then recovered with $2.85 million on Wednesday and $2.24 million on Thursday.