BlackRock IBIT Logs $1.29B Dark-Pool Block Trade

BlackRock’s iShares Bitcoin Trust recorded a $1.29 billion dark-pool block trade of about 29 million shares, roughly 16,400 bitcoin, crossing at about 10:30 a.m. ET.

The order executed at roughly $43.16 per share and has been confirmed by ETF analysts Eric Balchunas and James Seyffart as an intermarket sweep order. The single print produced a chart candle that exceeded IBIT’s typical full-day trading volume.

IBIT finished the session at $42.99, slightly above the level before the block trade. Bitcoin traded near $75,900 during the session and remained above $75,000 through the day.

At the time the block crossed, nearly $1 million flowed into December 2026 IBIT call options at a $45 strike, according to options flow data tracked by market participants.

The trade took place in a dark pool, a private off-exchange venue used by institutional investors to move large positions with limited immediate market impact. Dark-pool transactions involve both a buyer and a seller and can reflect portfolio rebalancing, hedging, options-related activity, or liquidation.

Alex Thorn of Galaxy Research posted on social media: “Massive $1.289 billion IBIT block sale by unknown party through dark pool at 10:30 am today, biggest such trade I’ve ever seen.”

The seller has not been publicly identified. Official ETF flow figures, due the next trading day, will show whether the transaction registers as a net outflow for U.S. spot bitcoin ETFs or as an internal transfer between counterparties.

IBIT launched in January 2024 and has accumulated tens of billions of dollars in assets since then. Analysts and traders note the fund’s liquidity profile has grown, allowing large trades to execute without sharp price disruptions.