Overview
- U.S. spot Bitcoin ETFs recorded roughly $643.2 million in net outflows on October 30, erasing four days of inflows and producing the largest single‑day withdrawal since June, according to flow trackers.
- The outflows came after a reported Binance hot‑wallet breach of about $6.3 billion that was disclosed after U.S. market close on Oct. 29; Binance says it has replenished roughly 90% of assets, set aside more than $6.34 billion to cover losses, and plans phased withdrawal restarts on November 1.
- BlackRock’s IBIT led the Oct. 30 redemptions with about $233.7 million pulled but still finished October with substantial net inflows of roughly $932.1 million, showing sharp divergence in demand across ETF issuers.
- U.S. spot Ethereum ETFs logged a 23‑day streak of net outflows through Oct. 30 and lost more than $1 billion in October, even as on‑chain ETH staking hit record levels, highlighting different behavior between brokerage ETF holders and on‑chain participants.
- ETF mechanics require funds to buy or sell the underlying tokens when large creations or redemptions occur, so concentrated withdrawals can force real spot selling that tightens short‑term liquidity even though cumulative inflows since launch remain large.