A single dark pool trade offloaded $1.3 billion in IBIT shares, coinciding with a 2% drop in major crypto assets.
A dark pool trader executed a $1.3 billion sale of IBIT shares in one transaction, contributing to a broader 2% decline in major cryptocurrencies, with BTC trading at $75,900. The move highlights heightened volatility in crypto ETF markets amid shifting institutional flows.
HYPE ETFs recorded $100 million in net inflows over their first 10 sessions, signaling mixed sentiment. Meanwhile, Strategy reduced its debt by $1.5 billion, repurchasing notes at an 8% discount for $1.38 billion in cash, lowering its USD reserve to $871 million.
The transaction cut Strategy’s convertible debt from $8.2 billion to $6.7 billion, though concerns persist over its shrinking cash buffer. The company retains 843,738 BTC and generated a 0.7% yield from the deleveraging move.