US Spot Bitcoin ETFs Suffer Record $643 Million Outflows After Hack
US spot Bitcoin ETFs saw a record $643.3 million in net outflows on October 30, wiping out two-thirds of 2026 inflows following a major crypto exchange hack and mounting market uncertainty.
US spot Bitcoin exchange-traded funds suffered net outflows of $643.3 million on Friday, October 30, erasing nearly two-thirds of their net inflows for 2026 in a single trading session. According to SoSoValue data, this marks the largest single-day withdrawal since June 25 and the 12th largest event since the funds' launch in January 2024.
The massive withdrawals followed a major security breach at Binance, where approximately $6.3 billion in crypto assets were reportedly stolen. Friday marked the first trading session following the disclosure of the hack, compounding existing market pressures and injecting fresh uncertainty into the sector.
Market analysts note that while the hack heightened risk aversion, investor decisions are also influenced by broader macroeconomic conditions, risk assessments, and Bitcoin price fluctuations. Nick Forster, CEO of trading platform Derive, stated that the incident added an extra layer of uncertainty, prompting investors to re-evaluate their risk exposure.
BlackRock and Fidelity bore the brunt of the redemptions. BlackRock's IBIT fund shed $233.7 million, while Fidelity's FBTC recorded outflows of roughly $201 million. They were followed by ARKB, a joint venture between ARK Invest and 21Shares, which saw $129.5 million withdrawn, indicating widespread institutional de-risking across major products.
Weekly figures also reflected the downturn, with net outflows totaling $202.6 million for the week ending October 30, as early gains failed to offset Friday's massive sell-off. Market participants are closely monitoring upcoming sessions to determine whether the reaction is a temporary shock or the onset of a broader shift in institutional demand.
