Bitcoin ETFs See $643 Million Exodus After Record Binance Hack

Bitcoin ETFs — U.S. spot Bitcoin exchange-traded funds (ETFs) recorded massive outflows on Friday, the first full trading session following the revelation of a record-breaking $6.4 billion hack of crypto exchange Binance.

Data shows the ETFs bled $643.2 million in a single day, marking a significant flight of capital from the regulated investment products. The substantial outflows contributed to a net negative month for the funds, with October closing with roughly $516 million in net withdrawals.

The sell-off follows the disclosure of a historic security breach at Binance, where hackers reportedly stole $6.4 billion worth of digital assets. The incident has injected fresh uncertainty into the crypto market, prompting investors to reduce exposure.

The scale of the ETF outflows underscores the sensitivity of institutional and retail capital to major security events within the broader cryptocurrency ecosystem, even when the affected entity is distinct from the regulated fund structure.