BlackRock Dumps $317M of Bitcoin – Is Crypto in Trouble?

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BlackRock Just Sold $317 Million Worth of <a href="https://jpyeur.com/btc-usd/">Bitcoin</a>

Data from Arkham Intelligence shows that investors in BlackRock’s IBIT ETF sold approximately $317.1 million worth of Bitcoin this week, leading to a decrease in the amount of Bitcoin held by addresses linked to the fund.

Even after some recent sales, BlackRock continues to hold around $64.34 billion in Bitcoin, which they originally purchased for an average price of about $83,200.

Bitcoin ETFs snap six-week inflow streak

According to data from SoSoValue, U.S. Bitcoin ETFs experienced a combined net outflow of $290 million on May 15th. Notably, none of the twelve approved ETFs saw any positive investment during that day.

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Overall, the week was significantly worse for Bitcoin ETFs. They experienced roughly $1 billion in net outflows, ending a six-week period of gains that had brought in around $3.4 billion.

The week started off quietly, with a small increase of $27.29 million on Monday. However, things changed quickly on Tuesday, as investors pulled out $233.25 million from Bitcoin ETFs.

Selling intensified on Wednesday, making it the worst day of the week as investors pulled out $635.23 million.

Thursday saw a short-lived boost with $131.31 million entering the market, but that progress was quickly erased by $290.42 million in outflows on Friday, confirming a loss of over a billion dollars for the week.

Ethereum ETFs in the U.S. experienced $65.65 million in net outflows on May 15th, continuing a five-day streak of withdrawals from these investment products.

The simultaneous selling of Bitcoin and Ethereum ETFs suggests that crypto investors are becoming more cautious and decreasing their holdings after a period of price swings.

Bitcoin drops below key levels

Bitcoin’s price dropped quickly during trading in Asia on Saturday, causing significant losses for those betting on its price to rise.

Bitcoin’s price dropped 3.2% in the last 24 hours, according to CoinDesk data. This decline wiped out the gains it had made over the past week, after briefly reaching above $82,000.

The price drop brought Bitcoin back down to around $78,000 and caused over $500 million in losses for traders who had bet on the price continuing to rise using borrowed funds.

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2026-05-16 13:22