BlackRock Bitcoin ETF Suffers $1.3 Billion Sale In Single Transaction

BlackRock’s single-transaction Bitcoin ETF took a giant leap on May 26 when a single block trade with approximately $1.3 billion worth of shares sold. It rattled the market briefly but the IBIT ETF price stabilized soon after.

BlackRock’s Bitcoin ETF Hit With Massive Sale

Balchunas wrote on X: “Confirmed.. 29 million share trade ($1.3b) of $IBIT executed at 1030am this morning. This screen shows all the IBIT trades today by size and you can see one of these is not like the others. Price unchanged today so [the market] absorbed it well.”

The trading volume data for the session indicated a transaction volume of 29,212,864 shares that were executed at 10:30 a.m. at a price of $43.16 per share. Trade value is based on the execution price in the trading log and was approximately $1.26 billion.

The next-largest trades for the BlackRock Bitcoin ETF were much smaller, as displayed on the same trading screen. A 1.3 million share transaction was recorded at 4:03 p.m. at $42.99, while another trade of 1,011,933 shares executed at 4:00 p.m. at the same price. Other big trades on the day were in the range of 48,000 to 926,000 shares.

IBIT stocks ended the day with not much of a change, despite the massive pick up. The order was absorbed by the market without making an important dent in the price of the ETF, Balchunas explained.

In a separate update, BlackRock has announced the launch of tokenized money market fund on Ethereum.

Consecutive Outflows For BTC ETFs

The trade came after several days of outflows from U.S. spot Bitcoin ETFs. BlackRock’s IBIT, according to data from Farside Investors, was down by $68.9 million on May 22 following a $103.7 million outflow on May 21.

While that was the case in the Bitcoin ETF spot market, net flows were also negative across the U.S. spot Bitcoin ETF market during those sessions. The flow table shows that on May 22, total outflows from all the listed spot Bitcoin ETFs totaled $105.2 million.

Meanwhile on May 21, the combined outflows amounted to $100.9 million, per Farside Investors data. On the contrary, previously, the BlackRock IBIT ETF entered the top 10 U.S. ETFs list.