Core Insights - Bitcoin experienced a significant flash crash, dropping from $116,000 to under $110,000, leading to over $19 billion in liquidations, marking the largest single-day wipeout in cryptocurrency history [2] - The crash has raised concerns regarding the operating hours of Bitcoin exchange-traded funds (ETFs), particularly the iShares Bitcoin Trust ETF (IBIT), which is bound by traditional stock trading hours [3][4] Industry Concerns - Institutional investors are increasingly viewing 24/7 liquidity access as essential for prudent risk management, especially in light of extreme price volatility [3] - The inability of Bitcoin ETFs to trade outside regular market hours limits investors' ability to respond to significant weekend price movements [4] ETF Market Dynamics - BlackRock's IBIT ETF is the largest cryptocurrency-based investment fund, with nearly $100 billion in assets under management [5] - Bitcoin ETFs reported net inflows exceeding $2.70 billion for the week ending October 10, indicating strong investor interest despite recent volatility [5]