The Phantom Sword is a God Level technique, exclusive to the Iga-ryu Ninja, believed to have been brought to Japan from China during the Tang Dynasty. Over time, it was inherited, simplified, and modified by the founding master of the Iga style, making it more suitable for Japanese cultivators and gradually became the destined technique of the Iga-ryu Ninja.
This is also why, even when they carry a dagger, there's also a sword hanging on their waist, because it's very likely they'll use the Phantom Sword.
The Phantom Sword forms the foundation of their style. Not everyone is capable of practicing it, and not all those who practice it succeed. Even among those who succeed, it's uncertain to what realm they can advance.
Akiramari is but a minor figure within the Iga-ryu, so it's really uncertain to what level his skills in the Phantom Sword have been honed. If it turns out he's reached the highest stage, he truly would be formidable.