$1.3 Billion IBIT Block Trade Crosses Without Moving Bitcoin, Signaling ETF Market Maturity
A single investor sold 29 million shares as U.S.-listed spot crypto ETFs posted $334 million in net outflows, SoSoValue data showed.
- A single investor executed a dark pool trade of BlackRock's IBIT shares worth over $1 billion on Tuesday, a private transaction allowing large investors to move substantial amounts without displaying orders publicly.
- The ETFs have suffered net outflows for seven straight days, the second-longest streak since their inception in January 2024, losing $1.88 billion total.
- SoSoValue data shows IBIT processed net redemptions of $192.44 million on the day, while total net outflows across the 11 spot ETFs reached $334 million.
- Alex Thorn, head of research at Galaxy, flagged the trade as a cautionary signal, noting the investor appears to be scaling back exposure amid potential risk concerns.
- According to CoinDesk data, the largest cryptocurrency has pulled back to under $77,000 from highs above $82,000 on May 6, reflecting growing investor wariness.
23 Articles
23 Articles
$1.3 Billion IBIT Block Trade Crosses Without Moving Bitcoin, Signaling ETF Market Maturity
A 29 million share block trade of BlackRock’s iShares Bitcoin Trust (IBIT) executed Tuesday at 10:30 a.m. ET at $43.16 per share, totaling approximately $1.3 billion, according to Bloomberg senior ETF analyst Eric Balchunas. The fund closed the session unchanged, with bitcoin holding above $75,000 as the broader market absorbed the trade without disruption. “Confirmed.. 29 million share trade ($1.3b) of IBIT executed at 1030am this morning,” Bal…
Bitcoin Drop Linked To Hidden $1.3 Billion ETF Trade, Analyst Reveals
Eight straight days. That is how long US spot Bitcoin ETFs have been bleeding money, with more than $2 billion in net outflows recorded since May 14 — and Tuesday’s session added another ugly chapter to that streak. A Sell Order Like No Other A single trader sold over 29 million shares of BlackRock’s iShares Bitcoin Trust ETF on Tuesday through a dark pool, a private trading platform used by institutions to quietly execute large orders away from…
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