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. spot bitcoin ETFs have fallen from $104.29 billion on May 15, the last session before the outflow streak began, to $82.83 billion on Wednesday.

That is a $21.46 billion drop in roughly three weeks, with redemptions and bitcoin’s price slide combining to do the damage. Bitcoin ETF AUM now represents 6.36% of bitcoin’s circulating market cap, down from above 7% at the May peak.

Elsewhere, Ether ETFs lost a combined $52.94 million on the day. BlackRock’s ETHA accounted for nearly all of it at $51.58 million, and the fund dropped 5.56% as ether traded below $1,900.

Solana funds lost $12.74 million on Wednesday, led by Bitwise’s BSOL with $11.56 million in outflows. XRP funds shed $5.34 million, with Bitwise’s flagship XRP ETF taking the hit.

Both categories have now joined bitcoin and ether in net daily outflow for multiple consecutive sessions, ending a period in which altcoin ETFs had been drawing modest but consistent retail interest while bitcoin funds bled.

Hyperliquid’s spot ETF complex was the lone outlier. 21Shares’ THYP took in another $2.99 million, pushing cumulative HYPE ETF net inflows to $139.51 million since the May 12 launch and total net assets to $192.01 million. The token gained 3.45% on the day to $73.39 as the rest of crypto sold off.

Grayscale launched its own Hyperliquid product, HYPG, on Wednesday, pitching it as the lowest-fee U.S. spot HYPE vehicle and undercutting Bitwise’s BHYP and 21Shares’ THYP on expense ratio. The launch arrives at a moment when every other major crypto ETF category is in net redemption.

Citi told clients on Tuesday that spot bitcoin ETF flows explain roughly 45% of weekly BTC price moves, calling them the best gauge of investor adoption. The bank expects sentiment to stay subdued as long as ETF flows turn negative and the U.S. crypto market structure bill stalls.