BlackRock Just Sold $317 Million Worth of Bitcoin

According to data from Arkham Intelligence, clients of BlackRock’s IBIT ETF collectively sold around $317.1 million worth of Bitcoin this week, triggering fresh outflows from addresses associated with the fund.

Despite the recent selling, BlackRock still holds approximately $64.34 billion worth of BTC, acquired at an estimated average price of $83,200.

Bitcoin ETFs snap six-week inflow streak

Data from SoSoValue shows that U.S. spot Bitcoin ETFs recorded a combined $290 million net outflow on May 15 alone, with none of the 12 approved ETFs posting positive flows during the session.

The broader weekly picture was even more severe. Spot Bitcoin ETFs ended the week with roughly $1 billion in net outflows, officially breaking a six-week inflow streak that had previously attracted around $3.4 billion into the products.

The week began relatively calmly, with Monday registering modest inflows of $27.29 million. Conditions changed dramatically on Tuesday, when investors withdrew $233.25 million from Bitcoin ETFs.

Selling accelerated further on Wednesday, which became the worst session of the week after outflows surged to $635.23 million.

Although Thursday briefly brought relief with $131.31 million in inflows, the recovery quickly faded after another $290.42 million exited the funds on Friday, locking in the billion-dollar weekly loss.

U.S. spot Ethereum ETFs recorded $65.65 million in net outflows on May 15, marking the fifth consecutive trading day of withdrawals from ETH-focused products.

The synchronized selling across both Bitcoin and Ethereum ETFs reflects broader risk-off sentiment in crypto markets as traders reduce exposure following recent volatility.

Bitcoin drops below key levels

At the same time, crypto bulls suffered heavy liquidations as Bitcoin retraced sharply during Asian trading hours on Saturday.

Source: CoinMarketCap

According to CoinDesk data, BTC fell 3.2% over the previous 24 hours, erasing gains accumulated during the past week after briefly trading above the $82,000 level.