Bitcoin spot ETFs saw net outflows of $1.04B last week, ending a six-week streak of net inflows

According to SoSoValue data, for the week of May 11 to 15 (U.S. Eastern Time), Bitcoin spot ETFs recorded total net outflows of $1.04B, ending the prior streak of net inflows for six consecutive weeks. ARKB (ARK & 21Shares) led with a weekly net outflow of $324 million, while BlackRock IBIT ranked second with a weekly net outflow of $317 million.

Bitcoin Spot ETF Weekly Breakdown Data (May 11-15)

Net outflows (weekly):

ARKB (ARK & 21Shares): -$324 million (historical cumulative net inflows: $1.39B)

IBIT (BlackRock): -$317 million (historical cumulative net inflows: $65.78B)

Net inflows (weekly):

BTC (Grayscale Bitcoin Mini Trust): +$12.604 million (historical cumulative net inflows: $12.6M)

Summary: Total net asset value $2.3B; ETF net asset ratio 6.58%; historical cumulative net inflows $104.29B

Ethereum Spot ETF Breakdown Data (May 11-15)

Weekly total net outflows were $255 million. BlackRock ETHA had the largest net outflow (-$185 million, historical cumulative net inflows: $58.34B); Fidelity FETH was next (-$59.8877 million, historical cumulative net inflows: $11.81B); BlackRock ETHB was the only net inflow during the week (+$5.8296 million, historical cumulative net inflows: $513 million). Summary indicators: total net asset value $2.2B; ETF net asset ratio 4.83%; historical cumulative net inflows $11.83B.

SOL and XRP Spot ETFs: Net Inflows Against the Trend

SOL spot ETFs (weekly total +$58.1181 million): BSOL (Bitwise) +$41.3719 million (historical cumulative net inflows: $903 million); FSOL (Fidelity) +$10.3854 million (historical cumulative net inflows: $171 million). Total net asset value $1.01B; ETF net asset ratio 1.95%; historical cumulative net inflows $1.12B.

XRP spot ETFs (weekly total +$60.4950 million): Bitwise XRP +$25.6775 million (historical cumulative net inflows: $460 million); XRPZ (Franklin Templeton) +$21.0402 million (historical cumulative net inflows: $378 million). Total net asset value $1.18B; ETF net asset ratio 1.33%; historical cumulative net inflows $1.39B.

FAQ

What does the end of six consecutive weeks of net inflows mean?

Six consecutive weeks of net inflows indicates that investors continuously increased their net holdings of Bitcoin ETF positions during that period. This interruption suggests that selling pressure from both institutions and retail participants in the same week exceeded buying pressure. Bitcoin ETFs’ historical cumulative net inflows are still $58.34B; a single week of outflows does not signal a shift in long-term trends.

Why did SOL and XRP ETFs see net inflows in the same week against the trend?

SOL and XRP ETFs recorded net inflows of $58.11 million and $60.49 million respectively, indicating that some capital chose relatively smaller alternative Crypto ETF products when Bitcoin and Ethereum ETFs were under pressure, possibly reflecting a rotation of funds by certain investors or a short-term preference for specific tokens.

What does the 6.58% net asset ratio of Bitcoin spot ETFs represent?

A 6.58% net asset ratio means that, in total, all Bitcoin spot ETFs hold Bitcoin equal to 6.58% of Bitcoin’s global total circulating market capitalization, reflecting the depth of institutional allocation through the ETF channel as well as an important metric for measuring the impact of ETFs on Bitcoin market supply.