ETF Flows
Spot crypto ETFs logged a -$3.9M ↓ net outflow in Tuesday's settled session, according to InflowScan data — a marginal reversal after a string of constructive prints that pushed the 30-day cumulative to roughly $1.9 billion of inflows. Issuer reports for Wednesday's session have not yet been published; figures below cover Tuesday, May 19.
The redemption picture was concentrated in two issuers. Valkyrie's BRRR led the tape with a -$3.8M exit, and Fidelity's FETH shed -$3.7M, with the firm's flagship bitcoin product FBTC giving back another -$1.7M. The inflow side was thin and skewed to altcoin products.
- Valkyrie BRRR: -$3.8M ↓
- Fidelity FETH: -$3.7M ↓
- Fidelity FBTC: -$1.7M ↓
The pattern is unusual: Fidelity products appear on both the top inflow and top outflow lists, with money rotating out of FETH and FBTC and into FSOL. InflowScan data points to product-level repositioning within a single issuer rather than a broad risk-off impulse, an interpretation supported by the small absolute size of the net figure against the 30-day baseline.
Asset Prices
Bitcoin trades at $77,366, up 0.7% over 24 hours but off 0.6% on the week. The 30-day gain of +13.7% remains the dominant context: spot has held above the $75,000 handle since the recent leg higher, with $80,000 the next round-number resistance and prior consolidation in the $74,000-$75,000 zone now acting as support.
Ether sits at $2,127, also up 0.7% on the day but down 3.7% on the week — the weakest seven-day performer in the major-four set. The BTC-ETH price ratio has continued to widen, consistent with the redemption skew in FETH versus the relatively muted bitcoin-ETF outflows.
Solana is the standout. SOL trades at $84.66, up +9.2% ↑ on the week and +15.6% ↑ over 30 days, and Tuesday's lone meaningful inflow landed in FSOL. The flow-and-price alignment is the cleanest signal in the dataset. XRP holds at $1.36, up 1.7% on the week, with Franklin's XRPZ taking a small bid.
Stablecoin Flows
USDC supply rose roughly $5.4 million over 24 hours to $77.0B, while USDT contracted by about $59.8 million to $189.5B, according to InflowScan data. The net move is small but the directional split — USDC adding, USDT trimming — is consistent with redemption activity on offshore venues rather than fresh dry powder building onshore.
Outlook
The Wednesday session opens with bitcoin testing whether the $77,000 handle holds as the base of the recent range. Watch for Wednesday settled-flow data in tomorrow's pre-market brief — a second consecutive day of FETH outflows would suggest the ether-product softness is more than a single-session rebalance. On the SOL side, FSOL flow continuation is the key data point given the +9.2% weekly price move.
Levels to watch: BTC resistance at $80,000, support at $75,000; ETH support at $2,080 with $2,200 the nearest upside pivot. XRP's $1.40 level remains the cap from prior sessions.