Institutions Pull $2.7B From BTC, ETH ETFs Into HYPE, Solana, XRP

Institutional investors moved roughly $2.7 billion out of U.S. spot Bitcoin and Ethereum exchange-traded funds over the past two weeks while allocating about $226 million into single-asset ETFs tied to Solana, Hyperliquid’s HYPE token and XRP, according to data compiled by SoSoValue.

U.S. spot Bitcoin ETFs recorded about $1.26 billion in net redemptions last week, the largest weekly outflow since late January. Combined with the previous week’s figures, two-week Bitcoin ETF outflows totaled roughly $2.26 billion, pushing the category’s assets under management below $100 billion.

The nine spot Ethereum funds posted about $471 million in combined outflows over the same period, extending their streak of losses to 10 consecutive sessions, the longest run since March 2025.

Timothy Misir, head of research at BRN, said the seven-day average of U.S. spot ETF net flows recently fell to about negative $88 million per day. He added that the recent redemptions occurred while Bitcoin traded near $80,000 and that managers “used the price rebound to reduce their overall crypto exposure rather than add to existing positions.”

Market participants cited recent economic data showing inflation remaining higher than some investors expected and the confirmation and swearing-in of Kevin Warsh as Federal Reserve chair. Futures on the CME imply roughly a 39% probability of a rate hike at forward 2026 meetings, while prediction markets show about a 62% chance of zero rate cuts during the calendar year.

SoSoValue data show roughly $226 million flowed into single-asset funds tied to Solana, HYPE and XRP during the two-week span. The inflows into those products occurred as large-cap ETF outflows accelerated.

Alvin Kan, chief operating officer at Bitget Wallet, described the pattern as “an internal market rotation rather than a structural collapse in digital asset demand,” and pointed to Solana’s expanding high-throughput decentralized finance activity, Hyperliquid’s derivatives-focused infrastructure and XRP’s integration into cross-border payment networks as themes drawing interest.

New single-asset ETF wrappers let managers take targeted positions in specific networks without direct engagement with blockchain custodians or additional exchange counterparty arrangements. Bitcoin and Ethereum continue to hold the deepest liquidity and the largest assets under management among regulated crypto products.