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BlackRock Bitcoin ETF Posts Record $523 Million Daily Loss as BTC Price Slump Worsens

BlackRock's iShares Bitcoin Trust (IBIT) shed a single-day record of 523millionininvestmentsonTuesday,extendingafivedaystreakofoutflowsthathasdovetailedwiththedeclineofitsunderlyingasset.Theexchangetradedfundhashemorrhagedmorethan523 million in investments on Tuesday, extending a five-day streak of outflows that has dovetailed with the decline of its underlying asset. The exchange-traded fund has hemorrhaged more than 1.4 billion in assets since last Thursday, according to UK asset manager Farside Investors, the highest total for any consecutive day stretch in its 22-month history. "IBIT had worst day of outflows ever yesterday... ugly stretch," Bloomberg Seni ...