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BlackRock’s spot Bitcoin ETF, IBIT, experienced a massive single block trade on May 26 after approximately $1.3 billion worth of shares changed hands in one transaction. Despite briefly shaking market sentiment, the ETF price quickly stabilized, showing strong market liquidity and investor confidence in the Bitcoin ETF sector.
According to Bloomberg ETF analyst Eric Balchunas, nearly 29 million shares of BlackRock’s IBIT ETF were traded at around 10:30 a.m. The transaction was executed at approximately $43.16 per share, bringing the total trade value to nearly $1.26 billion. Balchunas highlighted that the market absorbed the unusually large sale efficiently, with IBIT closing the trading day with little price movement.
Trading data showed that the next-largest IBIT trades were significantly smaller. One transaction involved 1.3 million shares at $42.99 later in the afternoon, while another trade slightly exceeded 1 million shares at the same price. Most other major trades ranged between 48,000 and 926,000 shares, making the morning block trade stand out dramatically.
The large-scale transaction came during a period of consecutive outflows from U.S. spot Bitcoin ETFs. Data from Farside Investors revealed that BlackRock’s IBIT recorded outflows of $103.7 million on May 21, followed by another $68.9 million withdrawal on May 22. Across the broader U.S. spot Bitcoin ETF market, total net outflows reached $100.9 million on May 21 and $105.2 million on May 22.
Despite the recent withdrawals, BlackRock’s Bitcoin ETF remains one of the top-performing crypto investment products in the U.S. market. The fund recently entered the list of the top 10 U.S. ETFs by performance and popularity. Additionally, BlackRock announced the launch of a tokenized money market fund on Ethereum, further expanding its presence in the digital asset industry.
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