A major investor has reportedly exited their position in BlackRock's spot Bitcoin ETF, IBIT, through an over-the-counter transaction valued at $1.26 billion. On May 26, 29.21 million shares of IBIT were traded off-exchange at $43.16 per share. The total transaction amount was approximately $1.26 billion, which was $1.01 below the fund's market price at the time of $44.17. This resulted in a discount of 2.3%, with analysts estimating execution losses at around $29.5 million.