Bitcoin ETFs Bleed $643M in a Day After Binance Hack

In one trading day, Bitcoin ETFs lost $643 million — the biggest outflow of October, and the first full session since thieves drained about $6.4 billion from Binance. Four days of fresh money walked out the door in a single session, and that tells you how fast nerves can turn after a hack this big.

Key points:

• Friday was the first full day ETF buyers could react to the Binance hack, and they pulled $643 million out of Bitcoin funds — wiping out $441 million that came in Monday through Thursday.
• It was not just Bitcoin. Ethereum funds stretched their losing run to five days, about $431 million gone, and Solana funds bled for a fifth day too.
• Even so, the exit is small next to the size of these funds — under 1% of assets — so the real question is what Monday's numbers show, not Friday's alone.

BlackRock's IBIT led the way out with $234 million, and Fidelity's FBTC was right behind at $201 million. Ark's fund, Grayscale's and Bitwise's made up the rest, and trading in these funds jumped to about $6.4 billion, roughly three times the day before. When that much money moves in one session, it is not a quiet rebalance — it is holders heading for the door together.

Bitcoin itself fell about 4% on Friday to near $76,400, and more than $1.3 billion in margin bets got wiped out, before the price steadied near $77,500 on Saturday. Ethereum sat near $2,250, down close to 4% for the week, and Solana near $96, down about 4.5%. The whole crypto market still held near $2.7 trillion, which is why this reads like a scare, not a collapse.

Read also: FBI Blames North Korea for $6.3B Binance Hack — Can DeFi Block the Wallets?

Is this a one-day scare or a real exit?

My own read is simple: one red day after a $6.4 billion hack is a flinch, not a verdict. ETF buyers had no chance to react on Thursday, since the theft came after US markets closed, so Friday was their first shot at the exit. Binance, for its part, says it has replaced 90% of what was stolen and plans to reopen withdrawals in phases, starting with Bitcoin. If that reopening goes smoothly, some of the fear that drove Friday's selling may fade fast.

For now, the scoreboard is simple: one ugly day, a week of gains gone, and a market still standing near $2.7 trillion. Monday's flow numbers will say whether that was the whole story, or just the start of it.

Read also: Next Technology May Sell Its $450M Bitcoin Stack After Binance Hack

— BitByLine News Desk

This one is news, not advice about money. BitByLine never tells you to buy or sell anything, and any call you make with your own money is yours alone, with the risk yours too, so check things yourself first. Read our full Disclaimer.

Sources: Decrypt, Bitcoin.com