Ethereum

SBI Holdings has filed what it describes as Japan's first spot Ripple XRP ETF, while leaving Ethereum out of the proposed lineup. The plan targets $32 billion in institutional assets and outlines two products: a Bitcoin-XRP crypto-assets ETF and a gold-heavy hybrid that adds crypto exposure.

In April 2023, “Rich Dad Poor Dad” author Robert Kiyosaki warned the U.S. dollar could become “toilet paper,” citing inflation, banking stress, and de-dollarization concerns. By May 2026, the DXY had slipped 2.27% from 101.5 to 99.2, while a U.S. Bureau of Labor Statistics inflation calculator indicates $1 in spring 2026 buys about what $0.91 did in early 2023. Over the same period, Bitcoin rose about 174%, gold 123%, silver 200%, while Ethereum was roughly flat.

Institutional investors withdrew a combined $1.07 billion from Bitcoin and digital-asset investment products in one week, ending a seven-week run of inflows and marking the year's third-largest weekly outflow. Bitcoin led the declines with $982 million leaving, while Ethereum recorded $249 million in outflows, its biggest weekly redemption since January 30th. XRP and Solana bucked the trend, drawing $67.6 million and $55.1 million in inflows, respectively.

Ethereum fell below $2,120 and later printed a $1,914 low before stabilizing, with ETH now consolidating above $2,050. Price action remains below $2,165 and the 100-hour SMA, while support is tracked near $2,020 and resistance is clustered from $2,150 to $2,200. A break above $2,200 could open room toward higher levels, but failure to reclaim $2,150 may renew downside tests.

As the CLARITY Act edges toward becoming law, Ethereum is being framed as a leading beneficiary based on a five-point decentralization checklist. Yet reported Q1 institutional trimming—JPMorgan (-89%), Fidelity/FMR (-84%), Goldman Sachs (-62%), and Royal Bank of Canada (-39%)—alongside softer DeFi signals, suggests expectations may be outpacing positioning.

On May 19, market volatility returned as selling pressure intensified across major tokens. Bitcoin faced rejection near the $81,000 area and risked accelerating weakness if support at $75,000-$76,000 gives way, while Ethereum struggled below key moving averages after failing near $2,500. SHIB showed the weakest setup amid reports of billions of tokens moving to exchanges, XRP held a $1.30-$1.32 zone, and Hyperliquid (HYPE) remained in a clear uptrend.

Japan's major brokerages, including SBI and Rakuten, are ramping up plans for Bitcoin and Ethereum-focused investment trusts, signaling a shift away from crypto exposure being dominated by native exchanges. Regulatory changes approved in April 2026 moved major cryptocurrencies under the Financial Instruments and Exchange Act and were paired with a tax change toward a flat 20% rate. A 2026 Nomura survey also found nearly 80% of professional investors plan crypto allocations of 2% to 5%, while ETF rollout timelines could still slow broader retail uptake.

Bitmine chairman Tom Lee said on May 18 that rising oil prices have been a key factor weighing on Ethereum, arguing the inverse ETH-oil correlation is at a record high. He made the comments as ETH traded near $2,100, down about 3% in 24 hours and 12% over the past month. Lee added that while the move may be near-term "noise," he still views tokenization and agentic AI as longer-term tailwinds into 2026.

Goldman Sachs changed its crypto-linked ETF positioning in an SEC filing, fully removing XRP- and Solana (SOL)-related products while reducing its Ethereum (ETH) ETF exposure by about 70%. The disclosure also shows the firm still held roughly $700 million in Bitcoin ETFs and initiated a new Hyperliquid-related position valued at about $3.3 million.

Digital asset investment products posted net outflows of $1.074B last week, ending a six-week streak of inflows, with the US accounting for $1,140M of redemptions. Bitcoin led the pullback at -$982M and Ethereum followed at -$249M, while XRP (+$67.6M) and Solana (+$55.1M) still attracted capital. Total AUM slipped to $156.87B from $159B in the prior week.