Bitcoin ETFs just bled $1.26 billion in six straight days of outflows. But the money didn't leave crypto. It moved. Over the past two weeks, BTC ETFs shed over $2B and ETH ETFs lost $216M. On-chain data shows ~34,000 BTC flowing into exchanges. Year-to-date BTC ETF net inflows have shrunk to just $536M, nearly wiping out all 2026 gains. Jane Street slashed its Bitcoin ETF holdings by 71% in Q1, pivoting hard into ETH exposure instead. So where's the capital going? · XRP ETFs: $22M in weekly inflows, $1.39B cumulative since launch · Solana ETFs: $16M weekly, with May rebounding to $103M month-to-date · HYPE ETFs: ~$72M weekly Total alt-crypto ETF inflows hit ~$226M in the same stretch that BTC and ETH saw heavy outflows. As BRN's Head of Research put it: "The institutional bid hasn't disappeared. It's rotating." The spring BTC rally was built on Fed rate cut expectations. With inflation still running hot, that thesis is fading. Institutions aren't exiting crypto, they're repricing where the upside lives. With capital rotating across the board, what's your read on where institutional flows go next? #ETFRotation