Bitcoin ETF Investors Head for the Exits After Record Binance Hack
U.S. spot Bitcoin ETFs recorded $643.2 million in outflows Friday, their largest single-day October withdrawal, after attackers began stealing about $6.4 billion from Binance. The outflows ended a four-day inflow streak and left Bitcoin ETFs down roughly $516 million for October. Ethereum and Solana funds also continued losing assets, shedding $155.7 million and $10.8 million, respectively. Bitcoin fell about 4% to $76,400, while more than $1.3 billion in leveraged positions were liquidated; prices later steadied. Binance said it would cover losses, and Tether and Circle froze over $2.3 billion in stolen stablecoins. The report also cites persistent ETF outflows and cautious market sentiment amid uncertainty over future U.S. interest rates.
