The off-exchange sale of 29 million IBIT shares adds pressure as U.S. spot Bitcoin ETFs log $334 million in weekly outflows.
BlackRock’s iShares Bitcoin Trust (IBIT) recorded a $1.3 billion block trade in a dark pool Tuesday, executed at 10:30 a.m. ET. The transaction involved nearly 29 million shares, marking one of the largest private-market trades for U.S. spot Bitcoin ETFs since their launch last year.
The sale occurred as U.S. spot Bitcoin ETFs faced $334 million in net outflows for the week through Tuesday, following two consecutive weeks of $1 billion and $1.26 billion in redemptions. IBIT alone saw $192.4 million in net outflows on Tuesday, contributing to broader market strain.
Bitcoin dipped nearly 1.4% during the trade window, falling from around $78,000 to $77,000. Analysts suggested the block sale may reflect a portfolio rebalance rather than a forced liquidation, though its timing amplified concerns over cooling institutional demand.