Spot Bitcoin ETFs Log $635M in Single-Day Outflows, Largest Since January, as Solana Funds Post Ninth Consecutive Positive Session

Image Credit: Shutterstock

Spot Bitcoin ETFs recorded $635.23 million in net outflows on May 13, the largest single-day withdrawal since January 29, according to SoSoValue data. The figure pushed weekly flows to negative $841.19 million as of May 13, putting the product category on pace for its first negative week since the end of March. 

Bitcoin ETF Six-Week Inflow Streak at Risk After Back-to-Back Outflow Days 

The six-week positive run followed Bitcoin ETFs’ strongest month of 2026, with April delivering $1.97 billion in net inflows, a total driven largely by BlackRock’s iShares Bitcoin Trust. Inflows carried into early May, with Bitcoin ETFs pulling in $1.68 billion between May 1 and May 6. 

The momentum then reversed, with four outflow days in the sessions that followed, interrupted only by a modest $27.29 million inflow on May 11. The two consecutive outflow days ending May 13 have put the six-week positive weekly streak at risk. Ethereum ETFs have also seen weakening demand, recording three consecutive days of outflows over the same period, per SoSoValue data.

Solana ETFs Post No Outflow Days in May, Leading Altcoin ETF Inflows at $90.83 Million

While Bitcoin and Ethereum funds faced outflow pressure, Solana ETFs did not record a single outflow day in May, accumulating $90.83 million across eight positive sessions and one flat day. 

Among other altcoin ETF products tracked by SoSoValue, XRP ETFs logged three days of zero flows during the month. Dogecoin ETFs recorded inflows on only three days, with modest totals, while Chainlink products posted four inflow days. Solana led the altcoin ETF category in May flow consistency.

21Shares’ HYPE ETF Posts Positive Flows in Both Sessions Since May 12 Launch

Beyond Solana, 21Shares listed a spot ETF tracking Hyperliquid’s HYPE token on Nasdaq on May 12, under the ticker THYP. The fund posted positive flows in each of its first two trading sessions, drawing a combined $2.52 million. In a statement accompanying the launch, Andres Valencia, EVP of Investment Management at 21Shares, had this to say: 

“Having pioneered the first Hyperliquid exchange-traded product in Europe, we have seen the protocol evolve into a de facto global liquidity hub for decentralized derivatives.” 

Asset managers Bitwise and Grayscale have also filed S-1 applications to list spot Hyperliquid ETFs under the tickers BHYP and GHYP, respectively. No additional flow data beyond THYP’s first two sessions.

Bitcoin ETF Weekly Flows Sit at Negative $841M With Sessions Remaining 

With weekly flows sitting at negative $841.19 million as of May 13, Bitcoin ETFs are on course to record their first negative weekly total since the six-week positive streak began. Whether the week closes negative will depend on flow activity in the remaining sessions, which was not yet available at the time of this report.