ETF Outflows Weigh Heavy on Crypto Market as Bitcoin and Ether See Redemptions

Crypto exchange-traded funds (ETFs) experienced significant outflows on June 29, totaling $255.4 million in combined net redemptions.

The losses were led by spot Bitcoin ETFs, which shed $231.0 million as BlackRock's IBIT fund lost $300.4 million to investors pulling their money out of the market.

Despite some inflows into competing funds, the overall trend was negative for Bitcoin ETFs, with several major players showing significant losses, including Fidelity's FBTC and Grayscale's BTC.

In contrast, Solana ETFs bucked the trend, adding $5.5 million to their total value as investors showed selective demand for higher-beta crypto exposure.