US crypto ETF flows turned sharply on May 22. Market data showed total net outflows of about $84.83 million across US spot crypto ETFs, with Bitcoin products carrying the bulk of the selling. Bitcoin ETFs alone shed roughly $105.19 million, equal to about 1,384 BTC during the session.
Ethereum ETFs also ended the day in the red, though the scale was much smaller. Reported outflows came to around $6.67 million. Capital did not leave the digital asset market across the board. XRP, Solana, and several other altcoin-linked products recorded fresh inflows, pointing to a clear rotation in institutional positioning.
BlackRock and Fidelity sold nearly three days of mined Bitcoin supply
Reported trading data showed BlackRock sold about 907 BTC worth close to $68.89 million through its products during the session. The firm also cut Ethereum exposure by roughly 2,720 ETH, with those sales valued near $5.64 million.
Fidelity also reduced exposure across major digital asset products. It sold around 478 BTC worth approximately $36.29 million and trimmed about 496 ETH. Combined, the Bitcoin sold by BlackRock and Fidelity nearly matched three days of newly mined BTC supply. That added short-term spot supply to the market and increased attention on near-term trading liquidity.
XRP, HYPE, and Solana products drew fresh institutional money
While Bitcoin products weakened, several alternative crypto ETFs posted positive inflows. XRP ETFs led with about $9.47 million entering funds during the day. HYPE ETFs were close behind, taking in an estimated $10.95 million.
Solana ETF products added about $5.94 million. Chainlink ETFs recorded roughly $172,460 in inflows, while Litecoin products gained around $260,030 and HBAR products brought in close to $240,400. Those allocations did not fully offset the selling in Bitcoin funds, but they did soften the sector-wide decline.
DOT, AVAX, and DOGE ETFs ended the day flat
Not every altcoin product saw new positioning. Data showed zero net flow activity in DOT, AVAX, and DOGE ETFs during trading. That suggests investors avoided aggressive moves in those names and concentrated capital in a narrower group of products showing stronger demand.
The daily breakdown was striking: outflows from Bitcoin ETFs alone exceeded the total net outflow for the full US spot crypto ETF segment. In practice, that means positive flows into altcoin products absorbed part of the wider selling pressure. Ethereum's smaller outflow also pointed to a more measured repositioning rather than broad liquidation.
The flow picture remains split across the market. Institutions cut Bitcoin exposure on a defensive basis, while XRP and Solana products captured part of that redirected capital. For May 22, the data showed rotation inside crypto ETFs rather than a full institutional exit from digital assets.