On Oct. 31, U.S. spot Bitcoin ETFs recorded $409.5 million in net outflows. This ended a four-day streak of inflows. Withdrawals were concentrated in Fidelity’s FBTC and Ark Invest’s ARKB, totaling $330.5 million.
The outflows followed a negative month for the funds, while ether funds posted their largest monthly outflow on record, according to the data source’s calculation.
Read the full storyBlackRock’s IBIT and Fidelity’s FBTC led withdrawals on October 30, erasing 63.6% of net inflows since the start of the year.
The outflows came as Bitcoin fell below $79,000 and concerns grew over a security incident whose impact Binance said exceeded $6 billion.
The October 30 exit erased 63.6% of net inflows since the start of the year, while fund assets fell below $100 billion.
The outflows came in the first session after the Binance hack, cutting the funds’ year-to-date net inflows by 63.6% while leaving them slightly positive.
The daily outflow coincided with lower Bitcoin closes and withdrawals from Ether funds, while Binance said coverage of affected assets had risen to 95%.
The sell-off erased 63.6% of net inflows since the start of the year, coinciding with a security incident at Binance without proof that it was the direct cause.
Outflows concentrated in IBIT, FBTC and ARKB funds, while extending to ether funds amid turmoil following a security incident whose impact Binance said was estimated at billions of dollars.
The outflow coincided with a breach of Binance hot wallets and losses estimated at about $6.3 billion, while the company said it had covered 95% of the affected amount.
The outflows erased four days of inflows, while Ethereum funds recorded monthly losses of about $1.61 billion amid a security breach at Binance.
Outflows also hit Ethereum and Solana funds on Oct. 30 amid fallout from the Binance hack, with no evidence establishing that the incident drove investor decisions.
Withdrawals came as Bitcoin fell to $76,173 and crypto liquidations reached $1.53 billion in 24 hours, while investors awaited the U.S. jobs report.
Funds ended the month with net outflows of $515.9 million, while Ethereum funds recorded about $1.61 billion in outflows during October.
IBIT led withdrawals after the funds recorded four consecutive days of inflows; the outflows coincided with a Bitcoin decline and a security incident at Binance.