Bitcoin tumbled 2.8% on Tuesday after an unknown trader used a dark pool to sell 29.2 million shares of BlackRock’s Bitcoin ETF, worth $1.3 billion.

A $1.29 billion dark pool block trade in BlackRock's IBIT Bitcoin ETF executed with minimal market impact, signaling growing institutional depth in crypto.

A $1.29B dark pool block trade in Blackrock's IBIT on May 26 rattled traders, but bitcoin held above $75,000 as markets absorbed the move.