Key Takeaways
- BTC Spot ETF: -$1.256B across five days, peak outflow -$648.64M on May 18.
- ETH Spot ETF: -$216M across five days, outflows decelerating to -$6.67M by May 22.
- XRP Spot ETF: +$22.03M across five days, inflows accelerating from $750K to $9.47M.
- SOL Spot ETF: +$13.58M across four visible days, $0.00 net on May 20.
The recent selling of Bitcoin ETFs started strong on May 18 with outflows of $648.64 million, but quickly slowed down to $70.47 million by May 20. For the last two days of the week, outflows settled around $100 million. This pattern shows a quick surge in selling that then stabilized, unlike a continuous, long-term sell-off by institutional investors.
On May 18th, there was a significant outflow of $648.64 million, marking the largest single-day change for any product that week. By May 22nd, this outflow had decreased to $105.19 million. Instead of increasing, the selling pressure eased and then leveled off.
Outflows from Ethereum ETFs slowed down steadily, starting at $86.31 million on May 18th and decreasing each day to $6.67 million by May 22nd. This May 22nd figure was the lowest observed, indicating that the selling pressure on Ethereum ETFs was likely easing by the end of the week.
What the Newer Products Did on the Same Days
Data from SoSoValue shows that investment into XRP ETFs increased steadily for five days, jumping from $750,000 on May 18th to $9.47 million on May 22nd, even as XRP’s price fell. This suggests institutions were actively buying more XRP at lower prices. Throughout the week, XRP ETFs saw consistent inflows, peaking at $9.47 million on May 22nd – a day when Bitcoin ETFs experienced outflows of $105.19 million.
The SOL ETF saw money coming in for most of the week, except for May 20th, which had no net change. The biggest single-day increase was $5.94 million on May 22nd. Interestingly, while Bitcoin and Ethereum ETFs were experiencing outflows, both SOL and XRP ETFs were attracting investments on those same days.
What the Asymmetry Actually Means
Looking at the recent market data, I’m seeing a significant outflow from Bitcoin and Ethereum – around $1.47 billion – contrasted with only $35.6 million flowing into XRP and Solana. While this does show some divergence between older and newer crypto products, the difference in scale is striking. The newer products only absorbed about 2.5% of what Bitcoin and Ethereum lost. This isn’t really the kind of ‘rotation’ we typically see, where money simply moves from one asset to another. Instead, it appears institutions are selling off Bitcoin and Ethereum at a rate that these newer, smaller products just aren’t equipped to handle.
As a researcher, I’m closely watching the decrease in Bitcoin and Ethereum outflows we’ve seen this week. If May 18th really was the day with the most outflows, and this trend of smaller daily declines continues, the total amount leaving the market in May will be much less than initially feared. However, if those outflows start increasing again, exceeding $300 million per day, it would suggest this period of stability is just a pause and that the selling pressure isn’t over yet.
This article is for informational purposes only and shouldn’t be taken as financial, investment, or trading advice. Coindoo.com doesn’t support or suggest any particular investment or cryptocurrency. Always do your own research and talk to a qualified financial advisor before investing.
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2026-05-24 18:28