Bitcoin exchange-traded funds bled another $519 million on June 2, extending a redemption streak that has now run for 12 consecutive days. Ether ETFs fared even worse, logging their 16th straight session of outflows. The two largest crypto asset classes are under sustained selling pressure, though not every corner of the market is seeing the same pain: Solana and HYPE ETF products attracted fresh inflows on the same day.
12 days of redemptions
The $519 million outflow on Tuesday brings the total pulled from Bitcoin ETFs over the past two weeks into the billions. June 2 marked the 12th straight day where investors redeemed more shares than they bought — the longest such stretch this year. The persistent selling suggests a broad de-risking among institutional allocators, though the exact triggers remain unclear. Some market participants point to macro uncertainty; others to profit-taking after Bitcoin's run earlier in 2026.
Ether's longer losing streak
Ether ETFs have been hit even harder. The 16-session outflow streak that continued June 2 is the worst performance since the products launched. While daily redemption amounts have varied, the unbroken pattern signals a deeper shift in sentiment toward ETH relative to other assets. The selling has accelerated in recent days, with no signs of a reversal yet.
Solana and HYPE buck the trend
Not all crypto ETFs are bleeding. Solana and HYPE products recorded net inflows on June 2, a bright spot in an otherwise red day. The divergence is notable — investors are rotating out of the two largest digital assets while still putting money into newer, smaller-name funds. It's a pattern that echoes previous cycles where capital moved from blue chips into altcoins during periods of Bitcoin and Ether weakness.
What comes next
The outflow streaks are approaching records for each product category. If redemptions continue at the current pace, Bitcoin ETFs could set a new worst stretch by the end of the week. The next major test will come Friday when weekly options expire and monthly futures settle — events that have historically triggered sharp moves in both directions. For now, all eyes are on whether Solana and HYPE can sustain their inflows or if the selling eventually spreads.
