Bitcoin ETFs See Major Outflows Following Massive Binance Security Breach

Community Trust Score Verified 96 % Real Verified 23 votes Updated 35 minutes ago Investors withdrew $643.33 million from US spot Bitcoin ETFs on October 30, according to SoSoValue data. The outflow occurred one day after hackers drained approximately $6.3 billion from Binance, the world’s largest cryptocurrency exchange. These exchange-traded funds allow brokerage customers to own Bitcoin similarly to holding a stock. The funds currently hold $98.14 billion in assets. Friday’s withdrawal interrupted a four -day streak of net inflows. BlackRock’s iShares Bitcoin Trust (IBIT), the largest of the funds, lost about $234 million on October 30.