Bitcoin Selloff Coincides With $1.3 Billion ‘Dark Pool’ ETF Sale
BlackRock’s iShares Bitcoin Trust, or IBIT, is a U.S. spot Bitcoin ETF launched in January 2024 that gives institutions exposure to Bitcoin prices through brokerage accounts. Dark pools allow large investors to privately match sizable trades. More than $1.2 billion changed hands in this transaction, showing how ETFs have become a key channel for institutions to rapidly move money into and out of Bitcoin, affecting market sentiment and liquidity.
At 10:30 a.m. ET on May 26, 2026, an anonymous seller sold 29.2 million IBIT shares in a dark pool at $43.16 each, for a total of $1.26 billion. The price was a $1.01 discount to the market, meaning the seller accepted $29.5 million less to exit immediately. NYDIG said on May 29 that the trade appeared to be the exit of a large directional position. Bitcoin fell 2.8% the following day, while U.S. spot ETFs recorded net outflows of $333.6 million that day, though no causal link has been established.
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The history behind this eventBlackRock Bitcoin ETF Posts $528 Million Outflow, Second-Largest on Record
BlackRock's iShares Bitcoin Trust (IBIT) quickly became the largest U.S. spot Bitcoin ETF after its January 11, 2024, launch. Its fund flows are regarded as an important gauge of institutional risk appetite, with large withdrawals typically adding pressure to Bitcoin's price and market liquidity.
IBIT recorded net outflows of about $528 million on July 15, its second-largest single-day outflow since launch. U.S. spot Bitcoin ETFs collectively lost more than $733 million that day. Escalating tensions in the Middle East and macroeconomic uncertainty boosted demand for safe-haven assets, while Bitcoin briefly fell below $75,000, indicating that institutional investors were reducing their crypto exposure.
AI Fears Drive Crypto Lower as Mysterious Holder of BlackRock Bitcoin ETF Emerges
Anthropic's Claude Code has strengthened the automation of software development, fueling concerns that AI could erode the software and consulting businesses of traditional technology companies such as IBM. Selling in technology stocks spilled over into risk assets including Bitcoin. The identity of an offshore holder of BlackRock's spot Bitcoin ETF has also raised questions about Chinese capital flows and regulatory compliance.
Information compiled through July 19, 2026, showed that displacement fears sparked by Claude Code sent IBM shares plunging 11% in a single day. Bitcoin briefly fell to $64,000, with subsequent reports pointing to $63,000. Regulatory filings also revealed that Hong Kong entity Laurore Ltd. held $436 million in BlackRock's Bitcoin ETF, with its beneficiary linked to Chinese passport holders.
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