Lookonchain
Spot Bitcoin ETFs shed 3,361 BTC (roughly $256.91M) on May 18, extending a seven-day outflow streak to 12,478 BTC (~$957.71M). Spot Ethereum ETFs bled alongside, posting a one-day net of -26,151 ETH (~$55.23M) and a seven-day total of -113,035 ETH (~$238.73M).
Why it matters
The BTC and ETH ETF complexes are now printing outflow days at a pace not seen since the early-year reset — and the dollar magnitude is doing the heavy lifting: BTC's 7-day bleed is the larger of the two in nominal terms, but ETH's outflows are proportionally heavier relative to AUM, a sign that institutional appetite for ETH exposure is cooling faster than for BTC.
Market impact
The contrast with Solana is the most interesting read. SOL ETFs absorbed +3,425 SOL on the day (~$288K) and a much heavier +605,484 SOL (~$50.86M) over seven days — net inflows while BTC and ETH bled. The SOL complex is still too small to move the macro needle, but the divergence is the signal: allocators are rotating, not de-risking outright.
Frequently asked questions
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How much did Bitcoin ETFs lose on May 18?
Spot Bitcoin ETFs shed 3,361 BTC, worth roughly $256.91 million, on May 18. The seven-day cumulative outflow now sits at 12,478 BTC (~$957.71M).
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Did Ethereum ETFs also see outflows on May 18?
Yes. Spot Ethereum ETFs posted a one-day net of -26,151 ETH (~$55.23M) and a seven-day total of -113,035 ETH (~$238.73M), confirming outflows at scale.
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Why are Solana ETFs gaining while BTC and ETH ETFs bleed?
The divergence suggests allocators are rotating rather than de-risking outright. The SOL ETF complex is still too small in AUM to move the macro needle, but its inflow streak while BTC and ETH funds bled is the notable signal.
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How do the BTC and ETH outflows compare proportionally?
BTC's seven-day bleed is larger in nominal dollars (~$957.71M vs ~$238.73M for ETH), but ETH's outflows are proportionally heavier relative to its ETF AUM — institutional appetite for ETH exposure is cooling faster than for BTC.
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What is the biggest takeaway from the May 18 ETF flow data?
BTC and ETH ETF complexes are printing outflow days at a pace not seen since the early-year reset, while SOL ETFs kept adding. The read is rotation within the complex, not a blanket risk-off move.
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