Digital asset exchange-traded funds painted a mixed picture on June 8, as capital rotated across crypto sectors rather than fleeing the market entirely. HYPE-linked ETFs returned to positive territory with $2.47 million in net inflows, after recording their first weekly outflow the week before. Bitwise’s BHYP attracted $1.79 million and Grayscale’s HYPG drew approximately $675,000, pushing total net assets to $177.83 million on $31.91 million in trading volume. The reversal reflects growing investor attention on emerging blockchain ecosystems and decentralized finance infrastructure, with HYPE increasingly seen as an avenue for exposure beyond top-tier cryptocurrencies.
Ether ETFs led all categories, pulling in $82.37 million across funds managed by Fidelity, BlackRock, Grayscale, Bitwise, 21Shares, and Invesco. This surge underscores persistent institutional confidence in Ethereum’s expanding ecosystem. In contrast, spot Bitcoin ETFs posted $91.37 million in net outflows, heavily skewed by a $232.92 million redemption from BlackRock’s IBIT. Despite that single large exit, ARK & 21Shares’ ARKB and Fidelity’s FBTC recorded $63 million and $59.4 million in inflows respectively, while Bitwise and Morgan Stanley funds also ended the day in the green. Solana ETFs saw a modest $472,000 net outflow, and XRP ETF products were inactive.
“I don't think these outflows necessarily reflect a broad shift in institutional sentiment toward bitcoin,” said Ryan Myher, co-founder and COO of Genius. “When you start to see inflows spread across multiple ETF issuers despite a large redemption from one fund, it often suggests that the broad-based selling pressure is beginning to ease.” Since mid-May, U.S. spot Bitcoin ETFs have shed nearly $5 billion, but Myher notes that long-term allocators remain engaged and that ETF demand could rebound if Bitcoin holds key support near $63,000. The latest flow data, combined with Bitcoin’s stabilization after dipping below $60,000 on June 5, signals that the market may be approaching a bottom in selling momentum.
