Investors Pull $643 Million From Bitcoin ETFs After the Biggest Crypto Hack in History

Investors pulled $643.33 million from US spot Bitcoin ETFs on October 30, according to SoSoValue data. The exit came one day after hackers drained about $6.3 billion from Binance, the world’s largest crypto exchange. These funds let brokerage customers own Bitcoin (BTC) the way they own a stock. They hold $98.14 billion in assets, and Friday’s withdrawal snapped a four-day run of inflows. Which Bitcoin ETFs Lost the Most Money? BlackRock’s iShares Bitcoin Trust (IBIT), the largest of the funds, lost about $234 million. Funds run by Fidelity and Ark Invest posted the next-largest exits. When investors cash out, large trading firms return fund shares in exchange for Bitcoin or cash. Either way, the funds give up coins that can then be sold on the open market.

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