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U.S. spot Bitcoin ETFs extended their outflow streak on May 26 as a reported $1.29 billion block trade in BlackRock’s iShares Bitcoin Trust drew fresh attention to weakening fund demand.
An unknown investor sold roughly 29 million IBIT shares in a dark-pool transaction. U.S.-listed spot Bitcoin ETFs recorded about $333 million in combined outflows that day.
IBIT Leads $333M in May 26 ETF Outflows
IBIT led the daily withdrawals with about $192.4 million in outflows. Other large funds also lost assets. Fidelity’s FBTC saw about $57.7 million leave the fund, while Bitwise’s BITB recorded about $28.8 million in outflows. Grayscale’s products also lost assets.
That made the pressure broader than one trade in BlackRock’s fund. The spot Bitcoin ETF market has lost about $2.26 billion over the past two weeks, adding to weaker sentiment after Bitcoin’s early-May move above $82,000 lost momentum.
$1.29B Dark-Pool Trade Does Not Prove BTC Sale
The reported IBIT transaction matters because it points to at least one very large holder reducing ETF exposure while Bitcoin is already under pressure. But the structure also matters. A dark-pool block trade is a privately negotiated share transaction, so it does not automatically mean the underlying Bitcoin was sold into the spot market at the same moment.
The trade may reflect a secondary-market transfer between institutional counterparties rather than an immediate sale of fund-held BTC. That distinction is important because ETF shares can change hands without creating the same visible impact as a direct Bitcoin sale on an exchange.
Two-Week Bitcoin ETF Exits Reach $2.26B
Bitcoin was trading around the mid-$75,000 range on Wednesday after failing to hold the levels above $82,000 seen earlier in May. That leaves the market dealing with two pressures at once: sustained ETF redemptions and a visible loss of price momentum.
ETF demand has been one of Bitcoin’s main support pillars since the U.S. spot products launched. The latest outflow streak suggests that cushion has weakened. The IBIT block trade does not prove a direct Bitcoin selloff, but it reinforces the message from recent flows. Institutional appetite through ETF wrappers has softened, and that is making the market more sensitive to large exits.
