A rough week for spot Bitcoin ETFs: net outflows hit $1.257 billion between May 18 and May 22. Ethereum-based ETFs weren't spared either, losing about $216 million. But the story isn't all red — the Memory ETF (ticker DRAM) just crushed the fastest-to-$10B record, and Hyperliquid's HYPE token surged roughly 40%, pulling $72 million into HYPE-linked funds.
ETF Outflows Dominate the Week
The five-day stretch saw investors pull more than $1.25 billion from spot Bitcoin ETFs. Ether ETFs followed with $216 million in net exits. Not every crypto fund bled, though. Spot SOL ETFs brought in just over $15 million, and spot XRP ETFs added $22 million. The divergence suggests money rotated toward altcoins rather than fleeing the asset class entirely.
Memory ETF Smashes the Record Books
DRAM, which launched on April 2, hit $6.5 billion in assets after only 27 trading sessions. That beat the previous record — BlackRock's IBIT Bitcoin ETF — by three sessions. Then it kept going. Within 30 sessions, DRAM topped $10 billion in assets, surging more than 84% since its debut. It's now among the top 10 U.S. ETFs by year-to-date inflows out of more than 5,000 listed funds. The speed is unusual even by crypto ETF standards.
HYPE Token Rally Lifts Hyperliquid Funds
Hyperliquid's HYPE token jumped roughly 40% during the week. That rally drew $72.38 million into HYPE-focused funds, a sign that traders are chasing momentum in the derivatives-layer token. The inflows came even as broader crypto markets struggled — Bitcoin managed only a 0.6% gain over the same period.
The question now is whether DRAM's pace can hold. It's already lapped the field once. Another week like this and it could climb higher in the YTD rankings.
