U.S. Bitcoin ETFs recorded $643.33 million in net outflows on October 30, marking their largest daily withdrawal since June 25 and completely erasing the $440.8 million in inflows collected over four consecutive sessions through October 29. According to SoSoValue data, the funds received $110.3 million on Monday, $176 million on Tuesday, $137.3 million on Wednesday, and $17.2 million on Thursday, before Friday's dramatic reversal. BlackRock's IBIT led the withdrawals with $234 million, followed by Fidelity's FBTC at $201 million and ARK 21Shares' ARKB at $129.5 million. Together, these three funds accounted for $564.2 million, or approximately 87.7% of the day's net withdrawals, with none of the other seven Bitcoin products recording positive flows.
The massive Bitcoin ETF outflows occurred just one day after hackers drained approximately $6.36 billion from Binance, the world's largest crypto exchange, according to analytics firm TRM. The attack moved about $6.3 billion out of Binance's exchange wallets across 10 blockchains, with most of the money leaving in approximately 20 minutes. TRM linked the theft to TraderTraitor, a North Korean hacking unit, making it about four times larger than the $1.5 billion Bybit hack of February 2025. Binance suspended deposits and withdrawals and stated that user funds are safe, while token issuers and network operators have frozen about $2.7 billion of the stolen assets. Friday's ETF exit represents about 0.7% of the money held in the funds, with similar exits occurring on October 22 when investors pulled $635 million in one session. Bitwise CIO Matt Hougan notes that the Binance hack would have sunk the exchange a decade ago, though he argues the long-term direction of Bitcoin remains unchanged.
BlackRock's IBIT still finished the latest five-session period with positive weekly inflows of $176.9 million after Friday's redemptions, though the fund's cumulative intake over the first four days totaled $410.6 million, or approximately 93.1% of the category's net inflows during that period. The fund had purchased $932.1 million in Bitcoin across the entire five-session period, leaving it with a $66.31 billion cumulative intake since January 2024. In contrast, Fidelity's FBTC experienced a $166 million weekly outflow after its $35 million intake earlier in the week was followed by Friday's $201 million withdrawal. ARKB had no flows during the first four sessions, so its entire $129.5 million weekly loss came from Friday's redemptions. Five years ago, institutions had no ETFs to turn to for greater security, making the current institutional response more resilient.
October's Bitcoin ETF net outflows reached $515.9 million after Friday's reversal, despite the month having been positive by $127.3 million before the final session. According to Farside Investors, cumulative net inflows into U.S. Bitcoin ETFs remained above $57 billion despite the latest selling. The preceding week, October 19-23, had ended with $301.2 million in net inflows, including $526.7 million on Monday and $524.8 million on Wednesday. Bitwise's BITB recorded $10.1 million in net inflows across Wednesday and Thursday, while Morgan Stanley's MSBT received $4.2 million on Thursday. Since their January 2024 debut, U.S. Bitcoin ETFs have accumulated $57.048 billion in net inflows, with GBTC having recorded $28.049 billion in net withdrawals.
Ether funds lost $156 million on Friday, marking their fifth straight day of outflows, with the cryptocurrency experiencing $431.4 million in weekly withdrawals compared to $220.7 million during the previous five-session period. According to Farside Investors, BlackRock's ETHA lost $76.6 million, followed by $34.1 million from Grayscale's Ethereum Mini Trust and $21.5 million from its ETHE product. BlackRock's ETHB shed $19.5 million, Fidelity's FETH lost $3.3 million, and Morgan Stanley's MSSE recorded $700,000 in withdrawals. Ether funds had finished every session of October 26-30 negative, with selling persisting earlier in the month including $320.1 million in withdrawals during October 12-16.
