Crypto ETF Week — May 18–22, 2026: net -$1.4B
The week of May 18–22, 2026, saw spot crypto ETFs face considerable outflows, led by Bitcoin and Ethereum. In contrast, HYPE and XRP recorded notable inflows.
TL;DR
- Net flow: -$1.4B
- Total inflows: +$111.6M
- Total outflows: -$1.5B
- Strongest day: May 20 (-$71.7M) · Weakest day: May 18 (-$726.8M)
Weekly Overview
During the week of May 18–22, 2026, spot crypto ETFs experienced a net outflow of -$1.4B. The flows were concentrated primarily in Bitcoin and Ethereum, while several other assets saw inflows.
Flows by Asset
BTC
Net: -$1.3B / Inflow: +$1.1M / Outflow: -$1.3B
| Fund | Flow |
|---|---|
| BlackRock | -$1.0B |
| Fidelity | -$111.5M |
| 21Shares | -$106.8M |
| Bitwise | -$9.2M |
| VanEck | -$7.6M |
| Franklin | -$6.6M |
| Invesco | -$3.8M |
| Valkyrie | -$3.8M |
| Morgan Stanley | +$1.1M |
ETH
Net: -$216.0M / Inflow: +$8.4M / Outflow: -$224.4M
| Fund | Flow |
|---|---|
| BlackRock | -$189.3M |
| Fidelity | -$21.0M |
| Grayscale ETH | -$10.1M |
| BlackRock ETHB | +$5.5M |
| Grayscale | -$4.0M |
| Bitwise | +$2.9M |
HYPE
Net: +$68.0M / Inflow: +$68.0M / Outflow: $0.0M
| Fund | Flow |
|---|---|
| Bitwise BHYP | +$35.9M |
| 21Shares THYP | +$32.1M |
XRP
Net: +$16.1M / Inflow: +$16.1M / Outflow: $0.0M
| Fund | Flow |
|---|---|
| Franklin | +$8.5M |
| Canary | +$5.9M |
| Bitwise | +$1.7M |
SOL
Net: +$15.6M / Inflow: +$16.1M / Outflow: -$0.5M
| Fund | Flow |
|---|---|
| Fidelity | +$13.6M |
| Bitwise | +$2.4M |
| VanEck | -$0.5M |
| 21Shares | +$0.1M |
DOGE
Net: +$0.9M / Inflow: +$0.9M / Outflow: $0.0M
| Fund | Flow |
|---|---|
| Grayscale | +$0.9M |
LINK
Net: +$0.5M / Inflow: $0.0M / Outflow: $0.0M
No fund-level flows recorded.
SUI
Net: +$0.5M / Inflow: +$0.5M / Outflow: $0.0M
| Fund | Flow |
|---|---|
| Grayscale | +$0.5M |
LTC
Net: +$0.3M / Inflow: +$0.3M / Outflow: $0.0M
| Fund | Flow |
|---|---|
| Canary | +$0.3M |
HBAR
Net: +$0.2M / Inflow: +$0.2M / Outflow: $0.0M
| Fund | Flow |
|---|---|
| Canary | +$0.2M |
Daily Breakdown
| Date | Net flow |
|---|---|
| May 18 | -$726.8M |
| May 19 | -$377.5M |
| May 20 | -$71.7M |
| May 21 | -$107.0M |
| May 22 | -$87.2M |
Biggest Fund Moves
Largest inflows
- Bitwise BHYP (HYPE): +$35.9M
- 21Shares THYP (HYPE): +$32.1M
- Fidelity (SOL): +$13.6M
- Franklin (XRP): +$8.5M
- Canary (XRP): +$5.9M
Largest outflows
- BlackRock (BTC): -$1.0B
- BlackRock (ETH): -$189.3M
- Fidelity (BTC): -$111.5M
- 21Shares (BTC): -$106.8M
- Fidelity (ETH): -$21.0M
Market Interpretation
Institutional investors withdrew significant capital from Bitcoin, which recorded a net outflow of -$1.3B, largely driven by major funds like BlackRock. Ethereum also faced notable outflows, totaling -$216.0M, indicating some rotation away from these major assets. In contrast, HYPE, XRP, SOL, and a few others managed to attract capital, particularly on the best day of the week.
Conclusion
The week concluded with a significant net outflow of -$1.4B, reflecting a challenging environment for major crypto assets. Despite this, some smaller assets showed resilience with positive inflows.