Spot bitcoin exchange traded funds record massive single day withdrawals
Image: CointelegraphUS spot bitcoin exchange traded funds recorded $643 million in net outflows on Friday. Ether funds also faced selling pressure with $155.9 million in outflows during the same session. The withdrawals occurred amid market volatility following a reported hack of Binance involving stolen crypto assets. BlackRock and Fidelity funds led the single day outflows. Analysts described the event as a de-risking move rather than full capitulation.
Key points
- Spot bitcoin exchange traded funds recorded $643 million in net outflows on Friday.
- The withdrawals followed reported security concerns involving Binance.
- BlackRock and Fidelity funds led the single day bitcoin exchange traded fund outflows.
Why it matters
Sudden outflows from exchange traded funds reflect shifting investor sentiment and risk management strategies across major digital asset products following exchange security incidents.
Price context · BTC
At publication
$78,076.00
Now
$78,233.00
Change since
+0.20%
7 days · dashed line = publication
Sources · 2 publishers
Cointelegraph
Tier 1
Bitcoin ETFs sink into October outflows with $643M exit after Binance hack
Coverage timeline
- First reported by Coinpedia
- Also reported by Cointelegraph
- CryptoVideos brief published
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NEXO
−0.9%
