BEAR10d ago
BlackRock IBIT $1.26B Block Sale: What It Means
A $1.26 billion off-exchange sale of BlackRock IBIT shares on May 26 cleared at a 2.3% discount, with no corresponding CME futures activity — ruling out a basis trade unwind and pointing to a large investor executing a rapid, discretionary exit. The transaction occurred against a backdrop of sustained ETF outflows, with U.S. spot bitcoin ETF AUM falling over $13.5 billion between May 14 and May 29. For perp traders, the combination of declining spot demand, negative ETF flows, and sub-$80,000 BTC prices raises the risk of further funding rate pressure and long liquidations.
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