June crypto ETPs record $4.31B net outflows

Global crypto exchange-traded products posted $4.31 billion in net outflows in June, and assets under management fell to $108.6 billion from $141.1 billion in May. Bitcoin-linked products accounted for roughly 94% of the redemptions.

A broad index that tracks the top 20 digital assets fell 21.2% in June to 1,602.48. A more concentrated top-5 index declined 20.5% to 958.47. Both declines occurred during the month’s heavy withdrawals from bitcoin products and widespread price drops across digital assets.

Bitcoin-linked ETPs recorded about $4.06 billion in net outflows and ended June with roughly $86.9 billion in AUM. Ether-linked products saw net redemptions of $348.1 million and finished the month with $11.4 billion in assets. On a flow-to-AUM basis, bitcoin outflows exceeded ether outflows in June, reversing a recent pattern.

Diversified multi-asset baskets returned to positive territory with $79.3 million of inflows and $1.95 billion in AUM. Dedicated altcoin vehicles posted inflows for a third consecutive month. Two newly listed staking-linked products together attracted $186.9 million in net new money: $125.2 million and $61.7 million respectively. XRP-linked products added about $120.0 million, and Solana vehicles gained $19.8 million.

Flows were concentrated by geography. U.S.-listed products accounted for the bulk of withdrawals, with $4.46 billion redeemed from American listings; U.S.-domiciled ETFs held $90.9 billion in AUM, more than 83% of the global total. Canada recorded $114.2 million in inflows. European venues recorded net inflows of about $49.7 million, led by Switzerland at $83.1 million, Jersey at $40.2 million and Liechtenstein at $6.0 million, while Ireland and Germany posted outflows. The Asia-Pacific region saw net outflows of about $12.4 million, driven by redemptions in Hong Kong and partially offset by purchases in Australia.

Currency-denominated flows followed geographic trends. U.S. dollar-denominated ETPs posted $4.45 billion in net outflows and held $102.1 billion in AUM. Canadian dollar products recorded $128.8 million in inflows and had CAD 3.60 billion in AUM. Euro-denominated ETPs recorded $6.2 million in outflows, while Swedish krona and Australian dollar products added $10.2 million and $5.8 million respectively.

Several funds drew notable purchases in June. The largest inflow was to a 2x bitcoin strategy ETF with about $169.0 million. Other top inflows went to a hyperliquid staking ETF that attracted $125.2 million, a Nasdaq crypto index ETF that drew $111.3 million, and a 2x ether ETF that added $96.2 million. Additional inflows were recorded by a major bank’s bitcoin trust, a bitcoin mini trust ETF, and a large iShares bitcoin product.

On exchanges, global open interest on centralized derivatives platforms fell 25.2% to $81.2 billion. Combined spot and derivatives volumes on centralized exchanges rose 13.0% to $4.99 trillion, the first monthly increase after four consecutive declines.

Data were compiled from index and ETF data providers. Reported flows treat a fund’s initial AUM at listing as its first inflow, which may differ from measures that account for pre-listing activity or share conversions.