U.S. Bitcoin and Ethereum ETFs See Outflows as Solana ETFs Add Inflows

According to recent flow data, U.S. Bitcoin and Ethereum ETFs posted continued net outflows around Bitcoin Pizza Day, while Solana-linked ETFs attracted fresh capital, pointing to increasingly selective digital-asset allocation.

BTC

ETH

SOL

37d ago

Fact Check

The claim is strongly supported by multiple independent sources. SoSoValue's own dashboard directly confirms '$1.1 billion weekly outflow' as the third-largest in 2026. The Kobeissi Letter and Bitget News both confirm this was the first outflow after seven consecutive weeks of inflows, matching the claim of 'ending a seven-week inflow streak.' The Odaily and PANewsLab articles confirm continued Bitcoin and Ethereum ETF redemptions on May 20 specifically, consistent with the claim's event_time. The breakdown (Bitcoin -$982M, Ethereum -$249M) and the retention of substantial net assets ($101.12B for Bitcoin ETFs, $12.24B for Ethereum ETFs) are all corroborated. The only minor nuance is that some SoSoValue data references a 'six-week' Bitcoin-only inflow streak ending around May 18, while the broader crypto ETF figure of seven weeks aligns with the Kobeissi Letter's characterization of the combined crypto ETF market. Overall, the claim accurately reflects the data.

Summary

Crypto ETF flows showed continued weakness in U.S. Bitcoin and Ethereum products as Solana-linked ETFs attracted inflows. Earlier data showed $1.1 billion in weekly crypto ETF outflows, including $982 million from Bitcoin ETFs and $249 million from Ethereum ETFs, while later seven-day figures put cumulative losses at 15,915 BTC worth $1.23 billion for Bitcoin ETFs and 114,871 ETH worth $244.79 million for Ethereum ETFs. On May 21, U.S. spot Bitcoin ETFs posted a $101 million net outflow, with Ark Invest and 21Shares’ ARKB leading inflows at $2.83 million and BlackRock’s IBIT recording the largest outflow at $104 million. U.S. spot Ethereum ETFs also recorded a $32.58 million net outflow on May 21, with BlackRock’s ETHB leading inflows at $3.29 million and BlackRock’s ETHA posting the largest outflow at $38.01 million. Solana ETFs meanwhile recorded positive daily and seven-day inflows. A separate Bitcoin Pizza Day-themed source said Bitcoin and Ethereum were under pressure amid rising ETF outflows and claimed Harvard University and Mark Cuban reduced holdings, but it provided no verifiable figures, dates beyond the Bitcoin Pizza Day reference, or transaction details.

Terms & Concepts

Spot ETF: An exchange-traded fund that aims to track the current market price of an asset by holding the asset directly rather than using futures contracts.
Net outflows: The amount of money or assets withdrawn from a fund after subtracting new inflows over a given period, indicating weaker demand during that timeframe.
Bitcoin Pizza Day: An annual crypto milestone marking the early use of Bitcoin to buy pizza, widely observed on May 22.