What to know:
- 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exodus from U.S.-listed spot bitcoin ETFs, which saw a combined $333 million in outflows Tuesday and $2.26 billion withdrawn over the past two weeks.
On Tuesday, investors withdrew millions of dollars from U.S. crypto ETFs, and one particular action caught attention.
A large investor sold over a billion dollars worth of shares in BlackRock’s bitcoin ETF (IBIT) in a single, private transaction. These types of transactions, called “dark-pool trades,” allow big investors to buy or sell large amounts of stock without publicly revealing their activity or causing a sudden price drop.
A large sell-off contributed to a total of $334 million leaving 11 different Bitcoin ETFs on that day. These ETFs have now experienced seven consecutive days of net outflows, losing a total of $1.88 billion since they launched in January 2024. This is the second-longest period of outflows so far; the longest was eight days, which happened twice – once in late August/early September 2024 ($1.2 billion) and again in February 2025 ($3.3 billion).
Alex Thorn, research head at Galaxy, highlighted a massive transaction on X (formerly Twitter), calling it the largest he’s ever witnessed. He pointed out the trade, worth $1.289 billion, occurred at 10:30 a.m. Eastern Time.
A large, sudden sale of over a billion dollars worth of assets is often a warning sign. It typically indicates the seller is concerned about future risks and is trying to reduce their potential losses.
This transaction doesn’t automatically mean money is being taken out of the fund. Although one investor strongly decided to sell, it’s possible other investors bought those shares, balancing out the sale.
Net outflow represents the overall difference between what was sold and what was bought in the market for the entire day.
IBIT experienced $192.44 million in net outflows, as reported by SoSoValue. This indicates that investors were primarily selling, which limited overall gains.
It’s becoming increasingly difficult for those optimistic about the market to dismiss the recent downturn. Over the last two weeks, investors have withdrawn a combined $2.26 billion from bitcoin ETFs. If this trend of selling continues, the price of bitcoin could fall further.
Bitcoin’s price has fallen from over $82,000 on May 6th to just under $77,000, according to CoinDesk data.
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2026-05-27 11:58