Institutions Abandon Bitcoin, Ethereum... 'Transfer' to XRP, NEAR

▲ Bitcoin (BTC), Ethereum (ETH), XRP, NEAR, Solana (SOL)/AI-generated image

As $1.47 billion flowed out of cryptocurrency funds, institutional capital showed a selective shift away from Bitcoin and Ethereum towards XRP, NEAR Protocol (NEAR), and Solana.

According to crypto media outlet Coingape on May 26 (local time), global cryptocurrency funds recorded a net outflow of $1.47 billion, continuing a negative trend for two consecutive weeks. CoinShares stated that this outflow was the third largest weekly outflow in 2026. Previously, two outflows of $1.7 billion each occurred at the end of January.

The cumulative outflow over the past two weeks increased to $2.54 billion. Bitcoin (BTC) funds saw an outflow of $1.315 billion, marking the largest weekly outflow in 2026. Ethereum (ETH) funds also experienced an outflow of $222 million. Coingape reported that the continuous capital flight from Bitcoin and Ethereum signals a deeper and broader risk-off sentiment related to macroeconomics and the US-Iran conflict.

In contrast, altcoin funds continued to see limited but selective inflows. XRP recorded the largest inflow among altcoins at $31.8 million. NEAR Protocol saw an inflow of $9 million, and Solana (SOL) received $7.7 million. Sui (SUI) and multi-asset funds also recorded significant inflows, with nine cryptocurrency asset funds, including XRP, showing inflows exceeding $1 million.

Interest in XRP, NEAR, and Solana is also growing in the derivatives market. Coingape reported that open interest in these three assets is rising, while Bitcoin and Ethereum are recording lower trading volumes. By country, the US led the overall risk-off trend with an outflow of $1.425 billion, and dampened investor sentiment was also observed in Swiss, Canadian, and Hong Kong cryptocurrency funds.

NEAR futures open interest surged over 26% in 24 hours, reaching $911.67 million. Investor interest grew after BitMEX co-founder Arthur Hayes predicted a massive rally, and NEAR has skyrocketed almost 150% in recent weeks amidst positive AI-related news. Coingape reported that NEAR rose 18% in 24 hours to $2.90, with trading volume also increasing by 20% during the same period.

XRP saw buy signals amidst whale and institutional buying, while Solana showed strength with recovering institutional interest and inflows into Solana spot ETFs. Solana rose 2% in 24 hours to $85.49, with 24-hour low and high at $83.81 and $86.37 respectively. However, trading volume decreased by almost 10% during the same period.

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