IBIT and FBTC lead $643M bitcoin ETF exodus after Binance hack

Spot bitcoin ETFs saw net outflows of $643.3 million on Oct. 30, the biggest single-day withdrawal since June 25, after hackers drained about $6.3 billion from Binance’s hot wallets the day before. The withdrawals were led by BlackRock’s IBIT and Fidelity’s FBTC, with IBIT losing $233.7 million and FBTC about $201 million; together they accounted for roughly two-thirds of the day’s net outflows. Other funds included ARKB losing $129.55 million, GBTC down $53.3 million, and BITB down $25.7 million. Despite the outflow, total ETF net assets remained $98.14 billion. Ether funds also fell, with $155.9 million outflows on Oct. 30.