The weekly performance of cryptocurrency exchange-traded funds reveals a distinct deceleration in selling pressure for legacy assets, contrasting sharply with the accumulation patterns observed in newer products. Bitcoin ETF outflows peaked at -$648.64M on May 18, representing the largest single-day movement across any product in either direction for the period. This figure subsequently contracted to -$70.47M on May 20 before stabilizing near -$100M for the final two days, with outflows reaching -$105.19M by May 22. This trajectory indicates a selling event that released early and normalized rather than accelerating, marking a structurally different pattern from a sustained institutional exit. Data compiled by Woofun AI shows that the selling pressure did not build but rather dissipated, suggesting the initial panic or rebalancing was contained within the first half of the week.

Ethereum ETFs mirrored this deceleration pattern with similar precision. Outflows began at -$86.31M on May 18 and declined daily, reaching a low of -$6.67M on May 22. The May 22 figure for ETH represents the smallest outflow in the visible range, implying that selling pressure for the second-largest asset class approached exhaustion by the week's end. While the total combined outflow for Bitcoin and Ethereum reached approximately $1.47B, the daily contraction suggests the market is digesting the initial shock. The stabilization of these figures is critical, as a re-acceleration above the -$300M daily range would indicate the selling event has further to run, whereas continued contraction points toward a potential floor for institutional demand.

In stark contrast to the legacy assets, XRP ETFs demonstrated consistent capital accumulation throughout the same period. Inflows accelerated from $750K on May 18 to $9.47M on May 22, spanning five consecutive days of positive net flow. This occurred while the underlying XRP price remained under pressure, indicating that institutional buyers were increasing their allocation specifically as the acquisition price declined. The largest inflow for XRP occurred on May 22, coinciding exactly with the day Bitcoin ETFs were still bleeding -$105.19M. Woofun AI notes that this behavior reflects a strategic accumulation by institutional investors who are decoupling their entry points from the broader market sentiment affecting Bitcoin and Ethereum.

Solana ETFs followed a similar, albeit slightly less consistent, trajectory of capital attraction. The product recorded positive inflows on four of the five days, with May 20 registering exactly $0.00 net flow. The inflow on May 22 reached $5.94M, marking the largest single-day figure in the visible range for the Solana product. Both XRP and SOL ETFs successfully attracted capital on the very days that Bitcoin and Ethereum ETFs were experiencing significant losses. This simultaneous divergence highlights a bifurcation in investor strategy, where capital is not merely rotating but is being actively deployed into specific altcoin narratives despite the broader liquidation of major caps.

The aggregate data presents a complex picture of market dynamics. The combined outflow of approximately $1.47B from Bitcoin and Ethereum ETFs stands in sharp asymmetry against the combined inflow of approximately $35.6M into XRP and SOL ETFs. This scale disparity means the newer products absorbed less than 2.5% of what the older products lost. Woofun AI analysis suggests this is not institutional rotation in the conventional sense, where capital moving out of one product seamlessly moves into another. Instead, it represents institutional selling of Bitcoin and Ethereum at a scale that the newer products are not yet large enough to absorb, creating a net liquidity drain from the sector.

Looking ahead, the deceleration in Bitcoin and Ethereum outflows remains the primary metric for assessing market stability. If May 18 represented the peak outflow day and the trend continues toward smaller daily negatives, the total outflow for May will look significantly different from the rate suggested by the initial spike.

However, the market remains sensitive to any re-acceleration of selling pressure. The divergence between the legacy and emerging ETF products provides a clear signal of shifting risk appetites, yet the magnitude of the outflows from Bitcoin and Ethereum continues to dominate the weekly liquidity narrative.