$1.3B Worth of BlackRock's IBIT Traded in Dark Pool on Tuesday, Largest Since ETF Launch

According to derivatives trader Georgii Verbitskii and data from SoSoValue, a $1.3 billion block of BlackRock's iShares Bitcoin Trust (IBIT) traded in a dark pool Tuesday morning (May 26), marking one of the largest off-exchange Bitcoin ETF transactions since U.S. spot Bitcoin ETFs launched 15 months ago. The 29 million shares were executed at 10:30 a.m. ET, coinciding with IBIT facing $192.4 million in net redemptions on the day.

Bitcoin shed nearly 1.4% during the transaction, declining from $78,000 to approximately $77,000 on a lower timeframe, though it held near $76,000 on a higher timeframe. Investor sentiment deteriorated further, with users on prediction market Myriad reducing bullish expectations to a 69% chance of Bitcoin reaching $84,000, down from 79% the previous Monday.