BlackRock Bitcoin ETF Sees $528 Million Outflow as BTC Holds $73K

BlackRock’s spot Bitcoin (BTC) ETF, iShares Bitcoin Trust ($IBIT), recorded a sharp one-day net outflow of $528 million, marking its second-largest daily redemption since launch and testing the market’s perception of ‘institutional demand’ even as Bitcoin pushed back above the $73,000 level.

According to data cited by Wu Blockchain, the outflow came in the prior session and stood out for its size—but not necessarily for what it implies over the longer term. Bloomberg ETF senior analyst Eric Balchunas noted that $IBIT is still up roughly $2 billion in net inflows year-to-date, placing it in the top 2% of all ETFs by flows. He added that the fund’s cumulative net inflows have reached about $64 billion, meaning the latest outflow represents less than 1% of total historical inflows.

Spot Bitcoin ETF flows are widely watched as a real-time proxy for institutional positioning and short-term risk sentiment. Large redemptions can reflect tactical de-risking, profit-taking, or hedging activity rather than a structural shift away from Bitcoin exposure—particularly when the broader cumulative flow picture remains positive.

Regulatory messaging in Washington also moved in a more supportive direction. SEC Chair Paul Atkins said the period in which crypto entrepreneurs felt forced offshore due to regulatory uncertainty “is now over,” according to reports cited by Wu Blockchain. Atkins said that under President Trump’s administration, the SEC will work with the federal government and Congress to provide the digital asset market with clearer rules, including pursuing legislation aimed at defining a workable compliance path and supervisory scope.

Separately, CFTC commissioner Mike Selik said the Trump administration is developing the first national crypto roadmap. In a May 13 interview with Mark Moss cited by Wu Blockchain, Selik described Trump as a “crypto president” and pointed to the introduction of Bitcoin futures during Trump’s first term as a key milestone. Selik added that building a pro-crypto policy bloc is intended to limit government overreach into private assets and property rights.

In markets, Bitcoin briefly traded at $73,016.30, up 0.12% on the day, according to OKX data carried by PANews. The move reclaimed a psychologically important zone, though the modest gain suggested traders remained cautious amid mixed signals from ETF flows and elevated leverage across derivatives venues.

Corporate accumulation continued to provide support to the ‘supply absorption’ narrative. Bitcoin Magazine reported that publicly listed firm Strive is estimated to have purchased 542 BTC—worth roughly $37 million—via its SATA program, bringing its estimated Bitcoin buying this week to more than 1,496 BTC. While corporate buys do not always translate into immediate price impact, they are closely monitored for their implications on tradable supply and longer-term institutional participation.

On the altcoin side, on-chain monitors pointed to potential near-term sell pressure tied to large unstaking events. PANews, citing Onchain Lens, reported that Galaxy Digital unstaked 1 million HYPE tokens worth about $61.5 million, with roughly 500,000 HYPE (around $30.36 million) deposited to centralized exchanges including Bybit and OKX. Exchange deposits are often interpreted as increasing the likelihood of selling, though the exact purpose of the transfers was not confirmed.

ODaily, citing Arkham data, also reported that a wallet known as “Loracle,” previously described as the largest HYPE long-position holder, unstaked HYPE worth about $51.3 million. Traders often treat large unstaking as a signal of potential distribution because it increases liquid circulating supply, even if actual selling does not materialize immediately.

Crypto banking infrastructure also saw a notable development. ODaily reported that United Texas Bank received approval from the Office of the Comptroller of the Currency (OCC) to convert its state bank charter into a national bank charter. The change allows the bank to directly access Federal Reserve payment rails, including ACH and wire systems, while maintaining FDIC deposit insurance. The bank said it plans to use the expanded capabilities to offer more stable U.S. dollar banking channels to crypto exchanges, OTC desks, and stablecoin-related businesses—an area that has remained strategically important as firms seek reliable ‘dollar liquidity’ connections.

Leverage risk remained in focus after a large Bitcoin long position on Hyperliquid came close to liquidation. ODaily reported that on-chain analyst Weijin said the position—worth about $30.5 million—could be liquidated if Bitcoin falls another $400. The trader reportedly bought 416.6 BTC at $73,345 with 40x leverage, with a liquidation level around $72,433. Such high-leverage positioning can amplify short-term volatility, as relatively small price moves may trigger forced selling.

Ethereum (ETH) also strengthened, trading at $2,000.23, up 0.48% on the day, according to OKX data cited by PANews. With both BTC and ETH holding key round-number levels, traders are likely to keep a close watch on ETF flow persistence, exchange inflows from large token holders, and evolving U.S. regulatory clarity as inputs for near-term sentiment.