Mystery Trader Dumps $1.26B in BlackRock Bitcoin ETF
A mystery trader sold a massive block of 29.2 million shares of BlackRock's iShares Bitcoin Trust (IBIT) for $1.26 billion via a dark pool. NYDIG's Greg Cipolaro analyzed the trade, noting the seller accepted a price $1.01 below market value, forfeiting $29.5 million for immediate execution. He speculates this indicates a large directional holder exiting a concentrated position, not a basis-trade unwind. The sale occurred amid a broader trend of outflows from U.S. spot Bitcoin ETFs, which have seen 11 consecutive days of net withdrawals totaling over $2.9 billion since mid-May. Bitcoin's price dipped 2.8% following the block trade, but analysts noted the market absorbed the large sale relatively well. Overall market sentiment remains cautious, with a key "fear" index averaging in "fear" territory for May.
TheNewsCrypto2 дні тому 10:00
