The bitcoin ETF bleed has spread across crypto.

U.S. spot bitcoin funds shed another $396.60 million on Wednesday, extending a record outflow streak to 13 straight sessions and a $4.37 billion drain since mid-May, while ether, solana and XRP products joined the redemption wave.

Hyperliquid’s spot HYPE ETF was the only major crypto fund still pulling in net new money.

BlackRock’s IBIT, the largest bitcoin ETF by net assets, absorbed the bulk of Wednesday’s outflow with $342.34 million in redemptions, according to SoSoValue data. Fidelity’s FBTC lost another $54.26 million.

The two funds dropped 2.76% and 2.65% respectively as bitcoin traded around $65,462, down from above $71,000 at the start of the week.

Total net assets across all U.S….