Bitcoin ETF · Bitcoin · CoinDesk
Whale alert: Someone dumped $1.29 billion of BlackRock's bitcoin ETF in a dark pool trade
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As investors pulled millions of dollars out of U.S.-listed spot crypto exchange-traded funds (ETFs) on Tuesday, one move stood out.
Key facts
- The largest cryptocurrency has already pulled back to under $77,000 from highs above $82,000 on May 6, CoinDesk data show
- The longest consecutive outflow streak is eight trading days, occurring twice, in late August-early September 2024, totalling $1.2 billion and again in February 2025, totalling $3.3 billion
- The massive sale was one on a day that saw total net outflows from the 11 spot ETFs increase to $334 million
- IBIT had to process net redemptions worth $192.44 million, according to data source SoSoValue
Summary
An unknown investor executed a single $1.29 billion block sale of BlackRock’s IBIT bitcoin ETF in a dark pool on Tuesday, in what one analyst called the largest trade of its kind he has seen. The sale came amid a broader exodus from U.S.-listed spot bitcoin ETFs, which saw a combined $333 million in outflows Tuesday and $2.26 billion withdrawn over the past two weeks. A single investor dumped over a billion dollars-worth of shares in BlackRock’s bitcoin BTC $ 75,841.99 ETF, which trades under the ticker IBIT, in one dark-pool trade. The massive sale was one on a day that saw total net outflows from the 11 spot ETFs increase to $334 million.