Blackrock and Ark Drive $1B Bitcoin ETF Selloff as XRP Demand Accelerates

Bitcoin ETFs experienced a $1 billion selloff, ending a six-week inflow streak, driven by institutional selling from BlackRock and Ark Invest, as XRP demand rises.

In a striking turn of events, Bitcoin exchange-traded funds (ETFs) faced a severe reversal last week, marking an end to a six-week streak of inflows. Over the week ending May 15, Bitcoin funds saw a staggering $1 billion in net outflows, a development largely driven by significant institutional selling, particularly from major players like BlackRock and Ark Invest . What Led to the $1 Billion Bitcoin ETF Selloff? The sharp decline in Bitcoin ETF inflows showcased a decisively cautious market sentiment. The outflows were primarily led by Ark & 21Shares' ARKB , which reported a net loss of $324.2 million , followed closely by BlackRock's IBIT , which shed $317.1 million . Fidelity’s FBTC didn’t fare much better, recording a loss of $259 million , while Grayscale's GBTC experienced $92.8 million in outflows. Other ETFs like Bitwise's BITB and Franklin's EZBC added to the decline with $46.8 million and $21 million , respectively. Are Ethereum ETFs Facing Similar Challenges? Bitcoin wasn’t the only major cryptocurrency struggling last week. Ethereum ETFs also underwent considerable pressure, with a net outflow of $255.11 million . Products like BlackRock’s ETHA and Fidelity's FETH led this deteriorating trend, prompting institutional investors to scale back their positions. Although BlackRock's ETHB managed to attract some inflows, it wasn’t enough to counterbalance the overall negative trend. Why Are XRP and Solana ETFs Thriving? In contrast to the struggles of Bitcoin and Ethereum funds, XRP and Solana ETFs emerged as unexpected bright spots. XRP ETFs drew in a net inflow of $60.5 million , while Solana ETFs garnered $58.12 million . This demand reflects a broader shift where investors are increasingly favoring crypto assets that are tied to regulatory clarity and practical utility. The ongoing discussions surrounding the proposed CLARITY Act have further fueled positive sentiment towards XRP. Investors appear eager to align their portfolios with cryptocurrencies that