Bitcoin ETFs Lose $643M After Record Binance Hack

TL;DR: U.S. spot Bitcoin ETFs lost $643.33 million on October 30, the day after hackers took about $6.3 billion from Binance. BlackRock's IBIT led with about $234 million. The exit ended a four-day run of inflows, and it equals about 0.7% of the assets the funds hold.

What happened to Bitcoin ETFs after the Binance hack?

Investors pulled $643.33 million from U.S. spot Bitcoin ETFs on October 30, BeInCrypto reported, citing SoSoValue data. That was one day after an attacker moved roughly $6.36 billion out of Binance's exchange wallets across 10 blockchains, according to analytics firm TRM. Most of the money left in about 20 minutes.

BlackRock, Fidelity and ARK 21Shares accounted for $564.2 million of the day's withdrawals, roughly 87.7%, according to crypto.news, which drew on Farside Investors figures. Ether funds lost another $155.7 million the same day.

The funds took in $440.8 million across October 26 to 29, so Friday's exit erased that intake and turned the week negative, per crypto.news.

The all-fund total in the table is $643.2 million, while the headline figure is $643.33 million. The gap is two trackers counting the same day: SoSoValue for BeInCrypto, Farside Investors for crypto.news.

Fund	Reported outflow, Oct. 30	Source
All U.S. spot Bitcoin ETFs	$643.2 million	crypto.news
BlackRock IBIT	$233.7 million	crypto.news
Fidelity FBTC	$201 million	crypto.news
ARK 21Shares ARKB	$129.5 million	crypto.news
Grayscale GBTC	$53.3 million	crypto.news

The three largest sellers account for nearly nine of every ten dollars that left. An outflow is other investors selling their shares. It takes nothing out of the shares you still own.

How big is this exit compared with other recent ones?

It is large for a single day and small against the pile. The withdrawal equals about 0.7% of the money held in the funds, which hold $98.14 billion in assets, according to BeInCrypto. A similar exit came on October 22, when investors pulled $635 million in one session, and inflows returned for four straight days after that.

The Bybit episode offers the closer precedent, and it points the other way from a quick rebound. After that $1.5 billion theft in February 2025, investors pulled a then-record $1 billion in one day a week later, as BeInCrypto relayed from ETF.com. The heavier selling last time came after the first reaction, not on the day itself. Whether that repeats here is unknown, and the reports do not say.

Other pressure landed the same day. About $11 billion in Bitcoin options expired on October 30, Yahoo Finance reported. CoinGlass data cited by Crypto Times put crypto liquidations at about $427 million over 24 hours, with longs taking about 73%.

What does this mean for an accredited investor holding Bitcoin through an ETF?

When investors cash out of a spot ETF, large trading firms return fund shares in exchange for Bitcoin or cash, BeInCrypto explained. Redemptions can therefore turn into selling pressure on the coin itself.

The price had already moved. Bitcoin traded near $77,000 on October 31, about 38.8% below its all-time high of $126,080 set in October 2025, per Crypto Times citing CoinGecko.

An ETF holds Bitcoin through its own custodian, while the breach hit an exchange. The reports cited here do not tie the funds to it, though they do not rule it out either. Downside first: before you size a crypto position next to your private deals, ask who holds the asset and who pays if that party is breached. That is the counterparty question a sponsor pitching you a crypto fund hopes you skip. For earlier coverage of the breach itself, see our report on the Binance hack and the crypto market drop. For how the rules may change, read our explainer on the CLARITY Act and institutional crypto and our look at the SEC's proposed Regulation Crypto.

What do we still not know about the hack?

The recovery picture is unsettled. TRM said token issuers and network operators have frozen about $2.7 billion of the stolen assets, per BeInCrypto.

Binance pledged to cover losses using its Secure Asset Fund for Users, or SAFU, CNBC reported. A pledge is not a payout.

Common mistakes

One easy error is reading one day of flows as a trend.

Price and flow tallies also differ by outlet and timestamp, and the Bitcoin price above is a snapshot. If you track this in a spreadsheet, record the source and time beside each number.

Treating a hack at an exchange as a verdict on the ETF wrapper, or the reverse, gets you the wrong risk. They carry different risks, and each deserves its own downside-first check.

FAQ

Can Bitcoin be hacked?

The reports describe a theft from an exchange's wallets, not a break in Bitcoin itself. TRM said the attacker moved funds out of Binance's exchange wallets. Exchange security and the Bitcoin network are separate things, and the sources here do not claim the network was compromised.

What is Binance?

Binance is the world's largest cryptocurrency exchange by trading volume, according to Crypto Times.

Why is the crypto market falling today?

Several things hit at once. The hack, $11 billion in expiring options and about $427 million in liquidations all landed around October 30, per Yahoo Finance and Crypto Times. The sources do not name one cause.

Will Bitcoin ETF outflows continue?

No source says. After the Bybit hack, the record outflow came a week later, per BeInCrypto relaying ETF.com. After October 22, inflows returned within days. Daily flows swing in both directions.

What to do today

Open your brokerage statement, find your Bitcoin ETF position, and write down the dollar amount you could lose without selling anything else. Then read your fund's custodian disclosure. If you want this kind of downside-first read on private markets each week, sign up for the free AIN briefing. Bitcoin is speculative and can lose most of its value.

Educational content only. Not investment, tax, or legal advice. Not an offer or solicitation to buy or sell securities. Past performance does not guarantee future results. Private-market investments are illiquid and involve risk of loss, including total loss of capital. Consult qualified advisers. Angel Investors Network is not a broker-dealer or investment adviser.