Crypto ETF Market Sees Heavy Redemptions Despite Modest Altcoin Inflows

The crypto ETF market continues to experience heavy redemptions, with Bitcoin ETFs losing over $1.3 billion in a week. On Thursday, May 28, Bitcoin ETFs posted their ninth consecutive day of outflows, amounting to $228.9 million. Blackrock's IBIT led the decline, with $177.94 million in withdrawals.

Ether products were not immune to the pullback, with $121.4 million in net outflows extending its losing streak to 13 sessions. Blackrock's ETHA accounted for the largest share of the exit, with an $80.39 million loss.

Despite the overall decline, smaller altcoin funds showed some resilience. XRP ETFs posted inflows of $1.77 million through Bitwise's product, while HYPE and Solana ETFs added modest amounts to their net assets.