Bitcoin ETFs Lose $1.26B as XRP and HYPE Funds Attract Fresh Inflows

Spot bitcoin ETFs recorded net outflows of $1.26 billion over the week from May 18 to May 22, with Blackrock’s IBIT accounting for $1.01 billion of the withdrawals. Fidelity’s FBTC and Ark & 21Shares’ ARKB also posted sizable outflows, alongside withdrawals from several other bitcoin ETF products. Trading activity stayed elevated at $9.27 billion, indicating active repositioning rather than broad market abandonment. Spot ether ETFs recorded $216 million in net outflows and continued a losing streak tied to institutional de-risking from ethereum-linked exposure. Blackrock’s ETHA led declines, while ETHB provided limited stabilization through occasional inflows. HYPE ETFs drew $72.4 million as investors rotated into alternative crypto growth narratives, while XRP and solana ETFs gained $22 million and $15.6 million, respectively.

"Spot bitcoin ETFs recorded net outflows of $1.26 billion for the week, making it one of the weakest weekly performances of 2026. The overwhelming share of the selling pressure came from Blackrock's IBIT, which alone lost $1.01 billion over the five days. Fidelity's FBTC followed with $111.5 million in outflows, while Ark & 21Shares' ARKB shed another $106.8 million. Additional withdrawals came from Bitwise's BITB, Vaneck's HODL, Franklin's EZBC, Valkyrie's BRRR, and Invesco's BTCO."

"Mixed May for bitcoin ETFs with $776.6 million in inflows and $2.26 billion in outflows. The scale of the withdrawals reflected a broad institutional de-risking trend rather than isolated fund-specific weakness. Trading activity remained elevated throughout the week at $9.27 billion, indicating that investors were actively repositioning rather than abandoning the market altogether. Morgan Stanley's MSBT stood out as the lone bright spot, attracting a modest $1.1 million inflow during an otherwise difficult week for bitcoin products."

"HYPE ETFs drew $72.4M as investors rotated into alternative crypto growth narratives. The contrast across digital asset exchange-traded funds (ETFs) could hardly have been sharper between May 18 and May 22. While bitcoin and ether faced aggressive institutional selling, smaller ecosystem-focused products quietly attracted fresh demand. XRP and solana gained $22M and $15.6M, respectively."

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