Bitcoin Slide Spurs Record Withdrawals From BlackRock’s IBIT

Investors pulled more than half a billion dollars from BlackRock Inc.’s iShares Bitcoin Trust, the largest single-day outflow since the fund’s debut, and the latest blow to a digital-assets market already short on confidence.

BlackRock saw $523 million in outflows from the exchange-traded fund on Tuesday, marking a fifth straight day of net redemptions, according to data compiled by Bloomberg.

Bitcoin has fallen almost 30% from a record high set in October, slumping to its lowest point since April. The original token and the wider crypto market are yet to recover from an Oct. 10 wipeout that erased ...