Altcoin ETFs See Muted Flows as Solana, Hyperliquid Face Outflows

U.S.-listed spot altcoin ETFs were largely flat on Wednesday, with meaningful outflows concentrated in just two products tracking Solana (SOL) and Hyperliquid (HYPE)—a sign that traders are adopting a wait-and-see stance rather than rotating aggressively across the altcoin complex.

Data compiled by SoSoValue for June 25 (U.S. Eastern Time) showed the spot XRP (XRP) ETF segment finishing the session unchanged on net flows. The category’s cumulative net inflows stood at $1.46 billion, with $26.44 million in daily turnover and total net assets of $906.59 million—about 1.41% of XRP’s market capitalization.

Solana spot ETFs, however, flipped to net outflows of $3.94 million after previously holding steady. The pullback was attributed to a single fund: Bitwise’s ‘BSOL’, which was the only one among eight listed Solana spot ETFs to record redemptions on the day. Despite the reversal, the segment still showed cumulative net inflows of $1.13 billion, daily trading volume of $57.97 million, and total net assets of $755.51 million, equivalent to roughly 1.88% of SOL’s market cap.

Elsewhere, several altcoin spot ETFs continued to exhibit minimal activity. Dogecoin (DOGE) spot ETFs posted a fifth consecutive session of flat flows, with cumulative net inflows of $12.64 million, $1.12 million in daily volume, and $10.97 million in net assets—around 0.10% of DOGE’s market capitalization. Chainlink (LINK) spot ETFs were unchanged for a second straight session, with cumulative inflows at $123.46 million, $1.49 million in turnover, and $91.54 million in net assets (about 1.70% of LINK’s market cap). Avalanche (AVAX) spot ETFs also remained stagnant, extending their no-flow streak to 10 sessions; the category showed cumulative net inflows of $11.00 million, $86,200 in daily trading volume, and $29.91 million in net assets (around 1.12% of AVAX’s market cap).

Hyperliquid spot ETFs were the other notable pocket of weakness. After posting flat flows a day earlier, the category recorded $4.64 million in net outflows. Redemptions were split between Bitwise’s ‘BHYP’ ($2.82 million) and 21Shares’ ‘THYP’ ($1.82 million), meaning two of the three listed HYPE spot ETFs contributed to the day’s decline. Even so, cumulative net inflows remained $172.81 million, with $12.37 million in daily turnover and total net assets of $190.49 million—roughly 1.36% of HYPE’s market capitalization.

Other niche products also stayed quiet. VanEck’s BNB (BNB) ETF ‘VBNB’ logged a ninth consecutive flat session, with cumulative net inflows of $1.45 million, just $8,850 in daily volume, and $2.15 million in net assets. Canary’s Litecoin (LTC) spot ETF ‘LTCC’ was unchanged for the fourth straight session, with cumulative net inflows of $10.23 million, $586,920 in daily volume, and $5.14 million in net assets (0.16% of LTC’s market cap). Canary’s Hedera (HBAR) spot ETF remained flat for an eighth session, with cumulative net inflows of $102.31 million, $298,510 in daily trading volume, and $48.17 million in net assets (about 1.52% of HBAR’s market cap). 21Shares’ Polkadot (DOT) spot ETF ‘TDOT’ extended its flat streak to 12 sessions, with cumulative net inflows of $1.40 million, $5,530 in volume, and $7.60 million in net assets (about 0.54% of DOT’s market cap).

The day’s pattern—broad stability punctuated by selective redemptions—highlights how spot altcoin ETFs are functioning as tactical instruments rather than broad ‘liquidity inflow’ vehicles. With most products seeing negligible net creation activity, the data suggests investors are waiting for clearer catalysts in the underlying tokens before committing fresh capital at scale.