BlackRock’s Bitcoin ETF recorded a $103.7 million outflow as U.S. spot Bitcoin ETFs extended a four-day losing streak with $1.43 billion withdrawn this week
The U.S. spot Bitcoin ETF market remained under pressure this week as investors continued outflows of money from major crypto investment products. Leading the decline was BlackRock’s iShares Bitcoin Trust (IBIT), which recorded another major outflow session while Bitcoin struggled to hold above the $77,000 level.
On May 21, U.S. spot Bitcoin ETFs recorded combined net outflows of around $100.9 million. Most of that came from BlackRock’s IBIT fund, which alone accounted for approximately $103.7 million in redemptions during the session.
The outflow extended a broader four-day streak of withdrawals across Bitcoin ETFs.
According to market data, BlackRock’s Bitcoin ETF has now recorded:
Altogether, Bitcoin ETFs have now seen roughly $1.43 billion in total outflows this week alone. The continued withdrawals come as Bitcoin remains far below its recent all-time high levels.
Despite the recent outflows, BlackRock still remains the largest institutional Bitcoin ETF holder in the United States. The IBIT fund currently controls around 806,259 BTC, representing more than 3.8% of Bitcoin’s total circulating supply.
At current market prices, those holdings remain worth tens of billions of dollars.
Since launching in January 2024, BlackRock’s Bitcoin ETF has also accumulated approximately $64.8 billion in total inflows, making it one of the most successful ETF launches in financial market history.
Importantly, analysts noted that the recent outflows represent only around 0.17% of the ETF’s total $62.5 billion asset base. That means the selling pressure, while large in dollar terms, still remains relatively small compared to the size of BlackRock’s overall Bitcoin holdings.
Interestingly, Bitcoin prices remained relatively stable despite the heavy ETF outflows.
BTC traded near $77,500 during the latest session, avoiding a larger selloff even as investors continued withdrawing capital from institutional products.
On May 21 alone, total trading volume across U.S. spot Bitcoin ETFs reached approximately $1.36 billion.
Meanwhile, total ETF net assets slightly increased to around $101.12 billion because Bitcoin prices stabilized during the session.
The weakness was not limited to Bitcoin products alone. U.S. spot Ethereum ETFs also extended their negative streak, recording net outflows of around $28.14 million during the same trading session.
The category has now posted eight consecutive days of withdrawals. Again, BlackRock products played a major role in the decline.
BlackRock’s ETHA fund saw around $30.94 million leave the product, while Fidelity’s FETH lost an additional $1.60 million.
However, not every Ethereum product experienced weakness.
BlackRock’s ETHB fund actually attracted around $4.39 million in inflows, becoming one of the few Ethereum ETFs still seeing intermittent institutional demand. Trading volume across Ethereum ETFs reached roughly $350.41 million, while total assets closed near $12.24 billion.
Outside Bitcoin and Ethereum, ETF activity remained relatively quiet.
XRP-linked ETFs recorded a small net inflow of around $1.45 million, entirely connected to Canary’s XRPC fund.
Although the number remains relatively small, analysts say it reflects ongoing selective interest in XRP investment products despite broader crypto market caution. Trading volume across XRP ETFs reached approximately $11.25 million, while total net assets stood near $1.13 billion.
Meanwhile, Solana ETFs reported no meaningful flow activity during the session.
Total net assets across Solana-related funds ended the day around $976.81 million after several weeks of stronger inflow momentum earlier this month.
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