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

▲ Solana (SOL), Dollar (USD)/AI-generated image

Amidst the largest outflow of funds from Bitcoin spot ETFs in approximately three months, Solana ETFs recorded no outflows for a single day in May, showing 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 is the largest single-day outflow since January 29. According to SoSoValue data, Bitcoin ETFs recorded outflows for two consecutive days this week, and the weekly flow is currently tallied at minus $841.19 million.

Bitcoin spot ETFs had attracted approximately $3.4 billion over the previous six weeks, maintaining the 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 in early May, with $1.68 billion entering from May 1 to 6, but since then, four outflows have occurred, excluding a small inflow of $27.29 million on May 11.

Ethereum (ETH) funds also showed a trend of slowing demand. According to the article, Ethereum funds recorded outflows for three consecutive trading days. While institutional funds grew cautious in 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 flow. BeInCrypto reported that XRP ETFs saw three flat flows in May, Dogecoin (DOGE) ETFs had only three small inflow days, and Chainlink (LINK) products recorded four inflows. Amidst these trends, Solana stood at the forefront of the altcoin ETF market in May.

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

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