BlackRock’s IBIT Sells $1.3 Billion in Dark Pool as ETF Outflows Mount

BlackRock’s iShares Bitcoin Trust (IBIT) executed a $1.3 billion block sale in a dark pool on Tuesday morning, intensifying pressure on the Bitcoin market as institutional investors continue to withdraw capital. The off-exchange transaction involved nearly 29 million shares and was executed at 10:30 a.m. ET, ranking among the largest private-market Bitcoin ETF trades since U.S. spot products launched last year.

Dark pool transactions are typically utilised to keep large orders away from public order books, thereby mitigating the immediate market shock associated with major sellers exiting through open markets. Despite this structural buffer, the transaction window revealed underlying stress, with Bitcoin prices slipping nearly 1.4% from approximately $78,000 to $77,000 during the execution period.

The sale occurred as IBIT recorded $192.4 million in net redemptions on Tuesday, contributing to a broader $334 million in total net outflows for U.S. spot Bitcoin ETFs for the week. This latest wave of withdrawals follows two consecutive weeks of significant redemptions, including $1 billion and $1.26 billion in outflows, signalling a sustained shift in institutional positioning.

Market analysts have characterised the event as a strategic move rather than a panic-driven exit. Shawn Young, chief analyst at MEXC Research, described the activity as a large portfolio adjustment rather than a disorderly liquidation. This distinction is critical for market structure, as it suggests the selling pressure was calculated rather than reactive to sudden volatility.

The trade highlights the liquidity dynamics surrounding IBIT, which remains the largest public wrapper for spot Bitcoin exposure. While the block sale did not trigger a full liquidity break, it demonstrated how substantial ETF selling can influence Bitcoin pricing even when routed through private channels. IBIT shares are currently trading at $42.36 U.S.