IBIT leads the charge, with 13 consecutive days of record-breaking redemptions, old money is retreating, but on-chain native protocols are starting to take over—does this script sound familiar?

CryptoWorld News reports that the four types of spot ETFs—BTC, ETH, SOL, and XRP—have recorded a cumulative net outflow of approximately $440 million over the past 13 trading days, with only HyperLiquid's Spot Hype ETF still attracting inflows. On the same day, US spot Bitcoin funds redeemed another $396.6 million, bringing the total to $4.37 billion since mid-May. Blackstone's IBIT ETF was the main source of redemptions, accounting for approximately $342.3 million. The ETH, SOL, and XRP ETFs each saw net outflows of approximately $52.94 million, $12.74 million, and $5.34 million, respectively. Overall, the total assets of US spot Bitcoin ETFs fell from $104.29 billion on May 15 to $82.83 billion, shrinking by approximately $21.46 billion.