Massive Bitcoin ETF Sale Worth $1.3 Billion Takes Place Amid Market Stability

A significant event occurred in the cryptocurrency market on May 26 when BlackRock's Bitcoin ETF experienced a massive sale of its shares, amounting to $1.3 billion.

The transaction was part of a single block trade executed at 10:30 a.m., with approximately 29 million shares sold at a price of $43.16 per share. This led to a trading volume of about $1.26 billion.

In comparison, the next-largest trades on the same day involved much smaller volumes, ranging from 48,000 to 926,000 shares.

The market absorbed this significant trade well, as evidenced by the ETF's price remaining relatively stable throughout the session. This suggests that the sale did not have a major impact on the market.