IBIT· iShares Bitcoin Trust

Dark pool · off-exchange short volume

Dark pool as of 2026-11-04 · latest session 2026-11-05

IBIT's off-exchange short-volume ratio was 40.1% on 4 Nov 2026, above its 20-day average of 36.0%. Off-exchange trading was 28% of volume over the last 20 sessions. 9 sessions in the last six months had unusually large off-exchange dollar volume, the latest on 30 Oct 2026.

Short ratio (latest)

40.1%

20-day average

36.0%

Off-exchange share (20d)

28%

Darkpool density

big day, short ratio above trendbelow trendbubble size = how unusual ($vol z-score)

Last ~6 months. Bubbles mark days of unusually large off-exchange dollar volume (≥1.5σ vs the trailing 60 days). Daily resolution — not print-level data.

Darkpool levels ±15% of spot, since 2018-10-01

49.34

0.96B

48.45

3.18B

47.57

4.05B

46.69

3.55B

45.81

4.42B

44.93

6.24B

44.05

6.59B

43.17

3.68B

42.29

0.46B

41.41

0.45B

40.53

0.87B

39.64

0.16B

38.76

0.52B

37.88

1.66B

Historical off-exchange $ volume at price: each day's volume spread across that day's range, summed over the full FINRA history. Heavy shelves often act as support/resistance magnets. Amber row = spot's bin.

Off-exchange short-volume ratio

short ratio (20d, right) daily off-exchange share (left)

FINRA daily TRF data, last 2 years. A persistently HIGH short ratio is mostly passive market-maker liquidity provision (commonly read as accumulation pressure) — not naively bearish.