Over the past week, Bitcoin’s price repeatedly tried to break past $82,000 but failed, likely due to recent news regarding US exchange-traded funds (ETFs).
Spot Ethereum ETFs continued to struggle, experiencing a completely negative trading week with no days showing a profit.
BTC ETFs Bled Out Heavily
Last week, ending May 6th, saw strong performance from spot Bitcoin ETFs, with over $620 million flowing in. This marked the sixth week in a row where more money came *into* these ETFs than went out – a really positive trend.
Recently, however, this positive trend reversed over the last five trading days. According to SoSoValue, investors pulled out a total of $1 billion, bringing the overall net inflow down from $59.34 billion to $58.34 billion.
Looking at the data, May 13th was the worst day for trading, experiencing net outflows of $635 billion. May 15th saw outflows of $290 million, and May 12th was third-worst with $233 million. The other two days had net inflows, but were much smaller: $28.3 million on Monday and $131.31 million on Thursday.
These investments had their worst week since late January, mirroring a period when investors were rapidly withdrawing their money.
The cryptocurrency’s price repeatedly attempted to move above a recent trading range, but failed each time. Most recently, this happened on Thursday after the CLARITY Act passed through the Senate Banking Committee, causing the price to drop from around $82,000 to below $78,000 over the following two days.
ETH ETFs in Red, Too
As a researcher tracking these new financial products, I’m particularly concerned about the spot Ethereum ETFs. Last week was especially rough – we didn’t see a single day with positive trading activity. Throughout the week, investors consistently pulled their money out: $16.9 million on Monday, a significant $130.62 million on Tuesday, $36.3 million on Wednesday, $5.65 million on Thursday, and another $65.65 million on Friday. It’s a clear indication of current market sentiment.
The week concluded with net outflows totaling slightly over $255 million, marking the largest amount since late January. According to Bloomberg ETF analyst James Seyffart, recent performance of Bitcoin (BTC) and Ethereum (ETH) ETFs reveals a concerning pattern for investors in alternative cryptocurrencies (altcoins).
I recently discussed the Ethereum ETFs. While they’ve stopped experiencing outflows and have even seen some money coming in over the past two months, the interest hasn’t been nearly as strong as with the Bitcoin ETFs. Bitcoin ETFs reached a peak of around $15 billion in total net inflows back in October.
— James Seyffart (@JSeyff) May 15, 2026
ETH’s price was also stopped at $2,400 earlier this week, and now sits below $2,200.
Both the ETFs that follow Solana (SOL) and Ripple (XRP) finished the week with gains each day. The Ripple ETFs had their strongest week since December, and Solana ETFs performed just as well.
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2026-05-17 18:49