BlackRock's $1.3B IBIT Block Trade Coincides With Bitcoin Whipsaw and Fresh ETF Outflows

A reported $1.3 billion block trade in BlackRock's iShares Bitcoin Trust (IBIT) coincided with a sharp bout of volatility in Bitcoin during the U.S. session, as BTC briefly slid below $76,000 after an intraday reversal. Senior ETF analyst Eric Balchunas said roughly 29 million IBIT shares changed hands around 10:30 a.m., a print totaling about $1.3 billion. He added that the market appeared to absorb the transaction without meaningful disruption to IBIT's share price. Commentary circulating on crypto trading platforms tied the timing of the IBIT block trade to heightened turbulence in spot Bitcoin markets. Data cited by Bitcoin News described the transaction as among the largest institution-sized Bitcoin ETF prints since the product's launch. On Coinbase, BTC/USD was tracked pushing toward $78,000 before reversing within the same window, with losses extending into an intraday drop below $76,000. Traders monitoring the flow pointed to rising sell pressure and accelerated liquidations around the time of the reported block transaction. Momentum faded later in the day as market participants trimmed short-term exposure following the reversal. ETF flows also remained a headwind. On May 26, U.S. spot Bitcoin ETFs posted $333.7 million in net outflows, extending the streak of consecutive daily withdrawals to seven days. IBIT led the day's outflows with $192.44 million, followed by Fidelity's FBTC at $57.7 million, Grayscale's GBTC at $41.3 million, Bitwise's BITB at $28.8 million, and Grayscale's BTC fund at $13.43 million. Cumulative net inflows across the category stand at $56.75 billion, while total net assets are $98.40 billion, equal to about 6.45% of Bitcoin's total market capitalization. The combination of the large IBIT print and persistent outflows has kept attention on near-term Bitcoin momentum, with traders watching institutional activity for signals on broader direction. Disclaimer: This content is for informational and educational purposes only and does not constitute financial advice. Coin Edition is not responsible for any losses resulting from the use of content, products, or services mentioned. Readers should use caution before taking any action related to the company.