U.S. Bitcoin funds see $643.2 million in net outflows on Oct. 30
Key Facts
U.S.-listed spot Bitcoin funds recorded net outflows of $643.2 million on Oct. 30, according to Farside Investors’ daily flow table. The withdrawals followed net inflows of $17.2 million the previous day and $524.8 million on Oct. 21. This coincided with a security incident at Binance, but sources did not link the incident to the outflows. The Associated Press also reported that Bitcoin fell 3.2% on the evening of Oct. 29 to below $79,000. Fund outflows and the price decline thus converged late in the week, while Ethereum fund figures for the same period remained unresolved in available reports.
The largest recorded outflows on Oct. 30 were spread across three funds: IBIT saw net withdrawals of about $233.7 million, FBTC about $201.0 million and ARKB about $129.5 million. Total outflows from listed funds reached $643.2 million that day. The figures show withdrawals across several products, with the largest amounts concentrated in the three funds named. Available figures do not allow for a reliable comparison with Ethereum flows in the same session, so it cannot be concluded that Bitcoin outflows exceeded them. Flow data alone also do not establish the reason for investors’ decisions.
Flows were mixed in the sessions before Oct. 30. After inflows of $524.8 million on Oct. 21, the funds recorded net outflows of $635.6 million on Oct. 22 and $137.9 million on Oct. 23. Inflows returned on Oct. 26 at $110.3 million, then reached $176.0 million on Oct. 27 and $137.3 million on Oct. 28. Inflows fell to $17.2 million on Oct. 29, before the net outflow of $643.2 million was recorded the following day. This sequence puts the Oct. 30 session against four consecutive sessions of inflows, following a large withdrawal on Oct. 22 during the same period.
Separately, Binance said its estimate of the incident’s total impact was about $6.3 billion and that it had worked with blockchain network partners to freeze affected assets on-chain. The platform estimated the value of frozen assets at about $3 billion at the time of the Associated Press report on Oct. 29. The agency noted that Binance had not explicitly confirmed in its initial report that funds had been stolen. In an update dated Oct. 31, Binance said it had covered 90% of the affected amount and that the tokens it named were fully backed by reserves. On Nov. 1, it said it had recovered about 95% of the affected assets, with the remaining 5% consisting of less liquid tokens outside the list of the top ten tokens it had cited.
Binance said in a Nov. 1 update that it planned to resume withdrawal services in stages, setting a window of 14:00 to 17:00 UTC+8 that day for the first stage. In its reserves update, it said it had taken a new proof-of-reserves snapshot at 00:00 UTC on Oct. 31. It added that preparing the full zero-knowledge proof takes about 40–50 hours and that it expected to make it available by Nov. 3. On the U.S. economic calendar for Nov. 2, Kiplinger listed the release of the final S&P Global manufacturing Purchasing Managers’ Index for October at 9:45 a.m. Eastern time. It also listed the Institute for Supply Management’s manufacturing index for the same month at 10 a.m.