Bitcoin’s Swoon Prompts IBIT Exodus

Bitcoin has hit some turbulence lately. After reaching a record high of roughly $126,000 in early October, the price of Bitcoin has since fallen below $90,000, dropping about 20% in the past month, and rippling through ETFs that track the cryptocurrency. Investors pulled $523 million out of BlackRock’s iShares Bitcoin Trust ETF (IBIT) in just one day last week, the largest single-day outflow in the fund’s history, Bloomberg reported. Separately, Morgan Stanley unloaded $104 million in complex structured n ...