Bitwise Leads Solana and XRP Inflows as Bitcoin ETFs Extend Losses
The market limped into the holiday break with a quieter tape and a familiar divide.
Bitcoin and ether ETFs remained under pressure, though volumes eased as traders prepared for the Juneteenth closure. The day was not without pockets of demand. Solana and XRP products both added capital, but the broader tone stayed cautious.
Bitcoin ETFs recorded $90.66 million in net outflows, led by two funds. Blackrock’s IBIT accounted for the bulk of the pressure, losing $96.66 million. Vaneck’s HODL added a smaller $4.44 million exit.
Morgan Stanley’s MSBT was the lone positive contributor, drawing $10.43 million in inflows. It helped soften the overall loss, but not enough to reverse the day’s direction. Total bitcoin ETF value traded came in at $2.40 billion, while total net assets closed at $78.32 billion.
Ether Outflows Stay Concentrated
Ether ETFs also finished in negative territory, with the entire $12.77 million outflow coming from Blackrock’s ETHA. There were no offsetting inflows across the category. Total ether ETF value traded stood at $436.41 million, while net assets closed at $9.30 billion.
The result kept ether funds under pressure, even as the scale of redemptions remained moderate compared with earlier sessions this month.
Solana and XRP Find Buyers as HYPE Goes Quiet
Solana ETFs offered the strongest positive flow of the day, adding $2.99 million. The entire inflow went into Bitwise’s BSOL. Total traded value was $38.30 million, and net assets closed at $794.01 million.
XRP ETFs also ended in the green, bringing in $2.55 million, all through Bitwise’s XRP product. Total value traded reached $11.98 million, while net assets slipped below the $1 billion mark to close at $994.81 million.
HYPE ETFs saw no trading activity. Net assets closed at $221.22 million.
The session also brought a fresh sign of how issuers are trying to blend traditional income strategies with bitcoin exposure. Henry Jim, ETF analyst at Bloomberg Intelligence, noted two new Franklin filings: the Franklin US Equity Bitcoin DRIP Index ETF and the Franklin US Innovation Bitcoin DRIP Index ETF. Both are structured to invest dividends into bitcoin, with an effective date listed as Sept. 1, 2026.
Thursday’s flows showed a market winding down before the holiday, without finding a decisive direction. Bitcoin and ether remained weak, but steady inflows into solana and XRP suggested selective demand is still present beneath the slower trading tape.
