Investors pulled $2.5B from Bitcoin and Ethereum ETFs, but Hyperliquid and XRP still found buyers
Through June 18, US spot Bitcoin ETFs lost nearly $2.3 billion and Ethereum ETFs lost about $200 million, with Bitcoin posting negative flows in 11 of 14 June sessions. In contrast, altcoin ETFs saw modest inflows: Hyperliquid products drew about $50 million in June and roughly $189 million cumulatively, while XRP ETFs added about $24 million in the latest period and roughly $1.5 billion cumulatively. Solana ETFs ended slightly negative. The data suggests not a broad rotation from BTC/ETH into altcoins, but concentrated demand for specific themes: Hyperliquid as an on-chain derivatives venue and XRP as regulated access for an existing holder base. The bullish read is that these products kept attracting buyers despite a weak broader crypto ETF backdrop. The bearish read is that these categories are still young or small, so inflows could reverse quickly. Whether the altcoin bid persists likely depends on Bitcoin and Ethereum ETF flows turning positive again.
