XRP and Solana See Inflows...BlackRock Leads Bitcoin ETF Outflows

▲ Bitcoin Spot ETF

Institutional fund outflows continue from Bitcoin (BTC) and Ethereum (ETH) spot ETFs. In contrast, XRP and Solana (SOL)-related funds are seeing steady inflows, indicating a divergence in investment sentiment within the virtual asset ETF market.

According to Bitcoin.com on May 20 (local time), Bitcoin spot ETFs recorded a net outflow of $331.05 million that day. This marks another large-scale outflow following the sharp withdrawals on the previous day. Notably, BlackRock's IBIT alone saw $325.58 million exit, effectively leading the selling pressure. Valkyrie's BRRR experienced an outflow of $3.79 million, and Fidelity's FBTC saw $1.67 million withdrawn. No Bitcoin spot ETF recorded a net inflow on this day.

However, trading volume remained high. The total trading volume for Bitcoin spot ETFs reached $1.41 billion, and the total net assets barely exceeded the $100 billion mark at $100.29 billion. Bitcoin spot ETFs recorded nearly $1 billion in outflows over two days, revealing a defensive stance among institutional investors.

Ethereum spot ETFs also could not escape the bearish trend. Ethereum spot ETFs recorded a net outflow of $62.3 million, continuing fund withdrawals for seven consecutive trading days. BlackRock's ETHA led the decline with $59.37 million in outflows, and Fidelity's FETH also saw $3.68 million withdrawn. Bitwise's ETHW received $756,330 in inflows, but it was limited in reversing the overall selling pressure. The total trading volume for Ethereum spot ETFs significantly decreased from the previous day to $398.61 million, and net assets fell to $12.14 billion.

In contrast, a different trend emerged in major altcoin ETFs. Solana ETFs recorded a net inflow of $3.78 million. Fidelity's FSOL led the inflows with $3.22 million, and Vaneck's VSOL also added $560,250. The total trading volume for Solana ETFs was $30.6 million, with net assets totaling $957.93 million. XRP ETFs also recorded a net inflow of $1.48 million, with all funds going into Franklin's XRPZ. The total trading volume for XRP ETFs was $7.96 million, and net assets closed at $1.12 billion.

While institutional funds are exiting major flagship products in Bitcoin and Ethereum spot ETFs, relatively smaller new funds are flowing into Solana and XRP ETFs. Investors are maintaining a cautious attitude across the virtual asset ETF market but are selectively allocating funds to assets linked to infrastructure growth, ecosystem expansion, and regulatory narratives.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*