BlackRock's Bitcoin ETF Sees $317M Pulled as XRP ETF Inflows Stand Out

BlackRock's spot Bitcoin ETF run of weekly inflows has ended abruptly, CoinDesk reported, as a wave of institutional redemptions pushed bitcoin into a volatile band. During the outflow window, BTC traded between $76,000 and $78,000 and was down roughly 3% to 5% on the day. A product that once ranked among the biggest sources of crypto market inflows flipped into net selling. For the week ended May 15, spot Bitcoin ETFs logged $1 billion in net outflows, snapping six straight weeks of net inflows. ARK 21Shares' ARKB posted the largest weekly redemption at $324.2 million. BlackRock's IBIT, long viewed as a steady inflow engine, recorded $317.1 million in net outflows. Fidelity's FBTC shed $259 million, an ETP outflow event described as one of the largest since 2026, with risk-off positioning tied to geopolitical concerns and Iran-related tensions. Ethereum ETFs also came under pressure, with $255.11 million in outflows over the same period. Market focus has shifted to whether BTC/USD can reclaim $78,500 ahead of any renewed ETF selling. Trading volumes have remained elevated, underscoring active institutional participation, while also highlighting that selling has been decisive. A three-scenario setup is taking shape: Bull case: IBIT leads a rebound in daily flows, including a one-day swing to +$144.1 million. Macroeconomic releases also surprised to the upside, and bitcoin retested the $80,000 to $82,000 resistance area. Base case: Bitcoin continues to range between $76,000 and $78,500 as markets absorb ETF outflow pressure and await the CLARITY Act and the next batch of macro data. Bear case: ETF outflows extend for a second straight week. The $76,500 support level has been breached, and some analysts warn that a deeper breakdown could open the door to sub-$70,000 pricing. In contrast to bitcoin-linked products, XRP and Solana drew fresh institutional allocations during the broader drawdown. XRP ETFs recorded weekly inflows of up to $67.6 million, including a single-day inflow of $18.25 million, lifting total XRP ETF AUM to $1.25 billion. Spot XRP has been trading between $1.36 and $1.42, with $1.35 flagged as support and $1.44 as the next resistance. The divergence is feeding a broader narrative: institutions appear to be rotating toward assets viewed as infrastructure with clearer real-world utility. XRP's payments rails and Solana's throughput are being cited as examples. Bitcoin remains widely seen as a store of value, but critics point to slower settlement, higher fees, and limited programmability. Separately, a presale project referenced in the newsletter has raised more than $32.7 million, with tokens priced at $0.0136803 and staking rewards available to early participants. The project highlights a decentralized Canonical Bridge for native BTC transfers and low-latency smart contract execution. The newsletter also included promotional material for 99Bitcoins and a brief author bio for on-chain journalist Alex Ioannou.