BlackRock has experienced a significant shift in its spot Bitcoin ETF, IBIT, as a large investor has divested their holdings through an over-the-counter deal valued at $1.26 billion. On May 26, a total of 29.21 million shares were traded at a price of $43.16 each, which was notably lower than the fund's market price of $44.17 at that time. This transaction reflected a 2.3% discount, leading analysts to estimate execution losses around $29.5 million.