BlackRock’s Flagship Bitcoin ETF Sees Record Cash Exodus

In this episode, we look at the record outflow from BlackRock’s iShares Bitcoin Trust $IBIT, where investors pulled about $523 million in a single day – the biggest withdrawal since the ETF launched. It comes as Bitcoin drops to a 7-month low after hitting record highs in October, and highlights a broader pullback in risk assets and a possible rotation into safer havens like gold.

Winners

Gold and safe-haven ETFs -

$GLD, $IAU

Reason: As Bitcoin sells off and $IBIT sees record redemptions, some investors are reportedly rotating into gold, which has held up better and is still seen as a classic hedge in risk-off markets.

Inverse / short Bitcoin products -

$BITI (ProShares Short Bitcoin Strategy ETF), and similar US-listed  ...