Bitcoin ETFs Slump as Solana and XRP Attract Selective Demand

The crypto market remained subdued on June 18, with Bitcoin and ether ETFs experiencing another day of outflows ahead of the Juneteenth market closure. Solana and XRP ETFs managed to attract modest inflows, while HYPE products saw no trading activity.

According to the latest data, Bitcoin ETFs lost $90.66 million on June 18, led by Blackrock's IBIT, which accounted for a significant portion of the pressure with an outflow of $96.66 million. Vaneck's HODL added a smaller exit of $4.44 million.

Morgan Stanley's MSBT was the lone positive contributor, drawing in $10.43 million in inflows and helping to soften the overall loss. The fund has seen four days of inflows despite the broader market outflows.

Solana ETFs offered the strongest positive flow of the day, adding $2.99 million through Bitwise's BSOL product. XRP ETFs also ended in the green, bringing in $2.55 million through Bitwise's XRP product.