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Bitcoin News: A massive $1.26 billion sale of BlackRock’s IBIT was likely a rapid exit by a large investor, NYDIG says

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CoinDesk Staff

(07:41 PM UTC)

1 min read

Approved bySarah Chen

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NYDIG, meanwhile, rejected the basis-trade theory, citing the large discount and the lack of an unusual spike in corresponding CME bitcoin futures volume.

A $1.26 billion block sale of BlackRock’s iShares Bitcoin Trust (IBIT) this week might have been driven by a large investor seeking a rapid exit from bitcoin exposure rather than the unwinding of a common hedge-fund trading strategy.

That’s…

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CoinDesk Staff · CoinDesk

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