Solana ETF, 'Zero' Outflow in May...Bitcoin Sees Largest Outflow in 3 Months

▲ Solana (SOL), US Dollar (USD)/AI Generated Image

While Bitcoin spot ETFs experienced their largest capital outflow in approximately three months, Solana ETFs recorded zero outflows in May, showing a clear differentiation in the altcoin ETF market.

BeInCrypto reported on May 14 (local time) that Bitcoin (BTC) spot ETFs saw a net outflow of $635.23 million on May 13. This marks the largest single-day outflow since January 29. According to SoSoValue data, Bitcoin ETFs recorded outflows for two consecutive days this week, with the weekly flow currently totaling minus $841.19 million.

Bitcoin spot ETFs had attracted approximately $3.4 billion over the preceding six weeks, maintaining their longest weekly net inflow streak since July 2025. In April, $1.97 billion flowed in, marking the strongest monthly performance since 2026, with BlackRock's iShares Bitcoin Trust leading most of the inflows. The trend continued into early May, with $1.68 billion flowing in from May 1 to May 6, but since then, four outflows have occurred, with the exception of a small inflow of $27.29 million on May 11.

Ethereum (ETH) funds also showed a slowdown in demand. According to the article, Ethereum funds recorded outflows for three consecutive trading days. While institutional capital became more cautious towards Bitcoin and Ethereum products, Solana (SOL) ETFs created the opposite trend.

Solana ETFs recorded no net outflows in May, attracting a total of $90.83 million through eight net inflows and one flat trading day. BeInCrypto reported that XRP ETFs showed flat trading on three occasions in May, Dogecoin (DOGE) ETFs had only three days of small inflows, and Chainlink (LINK) products recorded four inflows. Amidst this trend, Solana led the altcoin ETF market in May.

Beyond Solana, 21Shares' Hyperliquid (HYPE) ETF also garnered attention. Since its launch on May 12, this ETF maintained an inflow trend during its first two trading days, accumulating $2.52 million. Even as Bitcoin ETF's six-week consecutive inflow streak faltered, Solana and Hyperliquid products demonstrated that institutional capital's selective demand is shifting to some altcoin ETFs.

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