Crypto ETF Month — May 2026: net -$2.6B
May 2026 saw significant negative net flows into crypto ETFs, with a total of -$2.6B. While Bitcoin and Ethereum faced major outflows, HYPE, SOL, and XRP attracted new capital.
TL;DR
- Net flow: -$2.6B
- Total inflows: +$480.2M
- Total outflows: -$3.1B
- Strongest day: May 1 (+$730.9M) · Weakest day: May 27 (-$796.5M)
Monthly Overview
In May 2026, net flows into spot crypto ETFs were negative, totaling -$2.6B. While 10 out of 13 tracked assets recorded activity, the majority of the capital outflow was concentrated in Bitcoin and Ethereum.
Flows by Asset
BTC
Net: -$2.4B / Inflow: +$68.9M / Outflow: -$2.5B
| Fund | Flow |
|---|---|
| BlackRock | -$1.4B |
| Grayscale | -$330.3M |
| 21Shares | -$314.1M |
| Fidelity | -$274.0M |
| Bitwise | -$85.6M |
| Morgan Stanley | +$68.9M |
| Franklin | -$34.7M |
| Invesco | -$12.2M |
| Grayscale BTC | -$8.5M |
| Valkyrie | -$3.8M |
| VanEck | -$0.9M |
ETH
Net: -$541.3M / Inflow: +$43.5M / Outflow: -$584.8M
| Fund | Flow |
|---|---|
| BlackRock | -$418.7M |
| Fidelity | -$87.3M |
| Grayscale | -$49.3M |
| BlackRock ETHB | +$35.5M |
| Grayscale ETH | -$29.5M |
| Bitwise | +$5.6M |
| 21Shares | +$1.4M |
| Franklin | +$0.9M |
| VanEck | +$0.1M |
HYPE
Net: +$137.7M / Inflow: +$137.7M / Outflow: $0.0M
| Fund | Flow |
|---|---|
| Bitwise BHYP | +$81.7M |
| 21Shares THYP | +$56.0M |
SOL
Net: +$115.4M / Inflow: +$115.4M / Outflow: $0.0M
| Fund | Flow |
|---|---|
| Bitwise | +$80.3M |
| Fidelity | +$28.5M |
| Grayscale | +$6.4M |
| VanEck | +$0.1M |
| 21Shares | +$0.1M |
XRP
Net: +$102.4M / Inflow: +$102.4M / Outflow: $0.0M
| Fund | Flow |
|---|---|
| Bitwise | +$40.5M |
| Franklin | +$31.1M |
| Canary | +$23.7M |
| Grayscale | +$6.4M |
| 21Shares | +$0.8M |
LINK
Net: +$8.2M / Inflow: +$6.1M / Outflow: $0.0M
| Fund | Flow |
|---|---|
| Grayscale | +$6.1M |
SUI
Net: -$6.6M / Inflow: $0.0M / Outflow: -$6.6M
| Fund | Flow |
|---|---|
| Grayscale | -$6.6M |
HBAR
Net: +$4.0M / Inflow: +$4.0M / Outflow: $0.0M
| Fund | Flow |
|---|---|
| Canary | +$4.0M |
DOGE
Net: +$2.2M / Inflow: +$2.0M / Outflow: $0.0M
| Fund | Flow |
|---|---|
| Grayscale | +$2.0M |
LTC
Net: +$0.2M / Inflow: +$0.2M / Outflow: $0.0M
| Fund | Flow |
|---|---|
| Canary | +$0.2M |
Weekly Breakdown
| Week | Net flow |
|---|---|
| May 1 | +$730.9M |
| May 4 – May 8 | +$770.1M |
| May 11 – May 15 | -$1.1B |
| May 18 – May 22 | -$1.4B |
| May 26 – May 31 | -$1.6B |
Biggest Fund Moves
Largest inflows
- Bitwise BHYP (HYPE): +$81.7M
- Bitwise (SOL): +$80.3M
- Morgan Stanley (BTC): +$68.9M
- 21Shares THYP (HYPE): +$56.0M
- Bitwise (XRP): +$40.5M
Largest outflows
- BlackRock (BTC): -$1.4B
- BlackRock (ETH): -$418.7M
- Grayscale (BTC): -$330.3M
- 21Shares (BTC): -$314.1M
- Fidelity (BTC): -$274.0M
Market Interpretation
Institutional positioning saw significant capital withdrawn from Bitcoin, with BlackRock and Grayscale leading the outflows. Ethereum also experienced notable outflows, driven primarily by BlackRock. In contrast, HYPE, SOL, and XRP attracted inflows, indicating a rotation of capital toward these assets. The best day of inflows on May 1 suggests a brief positive sentiment, while the worst day on May 27 indicates a sharp decline in interest.
Conclusion
May ended with a total net figure of -$2.6B, reflecting a challenging month for the crypto ETF market. The persistent outflows from major assets underscore ongoing market volatility.