Bitcoin ETFs Lose $643 Million After Binance Hack
U.S. spot Bitcoin funds recorded October’s largest daily outflow in the first session after attackers began draining funds from Binance.
Key takeaways
- U.S. spot Bitcoin ETFs shed $643.2 million on Friday.
- Bitcoin traded at $77,947 Sunday afternoon, up 0.55% over 24 hours.
U.S. spot Bitcoin ETFs lost $643.2 million on Friday, their largest single-day outflow of October, according to Decrypt’s ETF tracker. The withdrawals came in the first full trading session after attackers began draining about $6.4 billion from Binance on Thursday.
Friday’s outflow erased a four-day run of $441 million in inflows. Ethereum ETFs also extended their outflow streak, losing $155.7 million on Friday and about $431 million over five days.
Bitcoin fell about 4% on Friday before steadying near $77,520 on Saturday. As of Sunday afternoon, it traded at $77,947, up 0.55% over 24 hours.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
