US spot bitcoin ETFs post roughly $643 million of net outflows after Binance hack

Several summary-only reports put the net outflow from US spot bitcoin ETFs at about $643 million, with figures quoted as $643.2 million and $643.33 million. One report ties the outflow to the day after the Binance hack, while others cite October 30. None of the sources states the trading day with certainty, so the exact date remains unconfirmed.

One report says the withdrawal reversed four consecutive days of inflows. Another says BlackRock's IBIT led the redemptions, and a third puts total net assets of the spot bitcoin funds at $98.14 billion. Other coverage cites different numbers, including about $409.5 million for another day, so the amounts are not fully reconciled.

Over a longer window, reports describe net outflows of roughly $255 million to $292 million across 30 days, despite money flowing into BlackRock's product over that stretch. One summary links the flows to a bitcoin drop to around $77,000 and about $427 million in crypto liquidations, and analysts are reportedly focused on $75,000 as a key level.

Fund redemptions generally mean that shares are sold and the underlying bitcoin is released, which lowers spot demand from institutional buyers. Together with the sentiment hit from a large exchange hack, this could add selling pressure, although the current BTC forecast is neutral.