A massive $1.26 billion sale of BlackRock’s IBIT was likely a rapid exit by a large investor
60-second summary
A massive $1.26 billion sale of BlackRock's IBIT is unfolding, likely a rapid exit by a large investor. Despite NYDIG's rejection of the basis-trade theory, citing a large discount and lack of unusual CME bitcoin futures volume, market observers remain cautious, speculating on potential price volatility and its impact on the overall cryptocurrency market sentiment and investor confidence.
NYDIG, meanwhile, rejected the basis-trade theory, citing the large discount and the lack of an unusual spike in corresponding CME bitcoin futures volume.