Investors pull record $523 million from BlackRock's flagship bitcoin ETF

(Reuters) -Investors pulled roughly $523 million from BlackRock's flagship iShares Bitcoin Trust on Tuesday, according ​to data from Farside Investors, marking the fund's largest single-day withdrawal ‌since its launch. IBIT, the largest spot bitcoin ETF, has attracted strong investor demand since its launch in January 2024 and has been central to the crypto ETF boom. "The crypto market entered a hangover in August," said Kraken's ​Global Economist Thomas Perfumo, adding a lot of that demand was driven by borrowed ‌money.