AI Fears Drive Crypto Lower as Mysterious Holder of BlackRock Bitcoin ETF Emerges

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.

BlackRock’s iShares Bitcoin Trust (IBIT) is a U.S.-listed spot bitcoin ETF that provides institutional investors with a regulated investment vehicle. Laurore Ltd.’s disclosure of a large, concentrated position using a Hong Kong address prompted scrutiny of the source of its funds and highlighted the liquidity appeal of U.S. ETFs to major Asian investors.

Laurore filed a Form 13F with the U.S. Securities and Exchange Commission on January 28, 2026, disclosing that it held about 8.79 million IBIT shares worth $436 million as of December 31, 2025. A spokesperson said on February 23 that the position reflected a personal investment conviction. Hong Kong records also pointed to Zhang Hui, a director holding a mainland Chinese passport, but the ultimate beneficial owner remained undisclosed.