Bitcoin ETF outflows hit $1.26B as institutions rotate toward XRP, Solana and HYPE products

Bitcoin hovered below $78,000 on Monday as U.S. spot Bitcoin ETFs posted $1.26 billion in net outflows for the week of May 18–22, according to The Block. The tally marks a second straight week of redemptions topping $1 billion. BRN Research Director Timothy Misir said institutional interest has not faded but is rotating across the crypto ETF complex. Over the same period, XRP ETFs took in $22 million and Solana ETFs added $16 million, while the newly launched Hyperliquid HYPE ETF attracted $72 million. Ethereum ETFs moved the other way, recording $216 million in outflows. Ether also came under pressure after the SEC delayed a plan tied to tokenized stock trading, though prices steadied Sunday as expectations rose around a potential Iran deal. In options markets, the largest open interest for Bitcoin options expiring May 29 is concentrated at the $75,000 put and $80,000 call strikes. For Ethereum, positioning is centered around the $2,100 put. On the macro side, U.S. and European markets were shut for public holidays, prompting analysts to flag thin liquidity. They added that a finalized Iran deal could send oil prices sharply lower and lift equities to fresh highs.