US spot bitcoin ETFs lose $643 million in a day after Binance hack, the biggest outflow since June 25
US spot bitcoin ETFs posted roughly $643 million in net outflows on Friday, a day after the Binance hack, according to The Block. It was their largest one-day withdrawal since June 25 and points to weaker risk appetite.
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Investors pulled about $643 million from US spot bitcoin exchange-traded funds on Friday, following Thursday's hack at Binance, which media outlets have called a record for the crypto industry. The Block says this was the biggest daily outflow in four months, with the last larger one on June 25.
Reports differ on the figure. A separate report put the outflows at $409.5 million, but two of the three sources, including The Block, cite $643 million and link it specifically to US spot bitcoin ETFs on Friday. The sources give no details on the scale of the breach or the exact timing of the redemptions.
Large ETF redemptions are a gauge of institutional sentiment. After a major security incident at the largest exchange, investors may trim crypto exposure more broadly, which can weigh on exchange-linked assets such as BNB through both reputational and market channels.
The current forecast for BNB is neutral across all horizons, with the probability of a rise near 50%, so the outflow data is a risk factor rather than a confirmed driver of a decline.
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The Block
Major outlet · EN · published Nov 2, 04:11
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- v2 · Nov 2, 06:19 — no text correction
- v1 · Nov 2, 06:16 — first publication