Blackrock is at the forefront of a $635 million selloff of Bitcoin ETFs while the demand for Solana remains strong.
May 14, 2026
Bitcoin and ether ETFs experienced a significant loss of investor capital on Wednesday, with Blackrock leading a $635.23 million selloff in bitcoin funds and ether ETFs enduring their third consecutive day of outflows, totaling $36.30 million. However, amidst the overall market retreat, Solana ETFs stood out as a beacon of strength, attracting $5.97 million in net inflows.
Bitcoin ETFs faced substantial outflows, with Blackrock’s IBIT seeing a monumental $284.69 million exit, reflecting a notable reversal in institutional sentiment towards the cryptocurrency. Following closely behind, Ark & 21Shares’ ARKB reported $177.10 million in outflows, while Fidelity’s FBTC lost $133.22 million. Bitwise’s BITB and Valkyrie’s BRRR also experienced significant outflows of $35.40 million and $4.82 million, respectively. Despite the negative flow trend, trading activity remained robust at $1.99 billion, indicating continued investor engagement even in the face of declining sentiment. Total net assets across bitcoin ETFs plummeted to $105.01 billion as a result of the consecutive days of heavy outflows.
Ether ETFs mirrored the caution observed in the broader market, with net outflows amounting to $36.30 million. Blackrock’s ETHA bore the brunt of the withdrawals with $21.10 million leaving the fund, followed by Fidelity’s FETH which saw a further $14.04 million exit. Blackrock’s ETHB, previously a steady source of inflows, shifted into negative territory with a $1.16 million outflow. Trading volume for ether ETFs hit $515.51 million, with net assets closing at $13.19 billion by the end of the day.
In contrast to the downtrend seen in bitcoin and ether ETFs, Solana ETFs emerged as a stronghold, attracting $5.97 million in net inflows. Grayscale’s GSOL led the charge with $4.89 million in inflows, while Fidelity’s FSOL added another $1.08 million. This positive movement in Solana ETFs signifies that some investors are opting to explore alternative blockchain ecosystems amidst the general market weakness. Solana ETFs boasted a trading volume of $56.64 million, with net assets reaching $1.02 billion.
XRP ETFs, on the other hand, recorded no trading activity during the session, maintaining flat net assets at $1.14 billion. The current market sentiment appears to be leaning towards caution, with a looming question regarding whether the recent outflows represent a short-term repositioning or mark the beginning of a broader decline in institutional demand for cryptocurrencies. Investors will be closely watching the market to gauge the trajectory of crypto ETFs in the coming days.