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Related tickers and likely impact
BTC/USDT
▼ Likely negativeBitcoin
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 11/01/2026 | 78,354.00 |
| Change that session | +1.00% |
ETH/USDT
▼ Likely negativeEthereum
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $277.2B |
| Close on 11/01/2026 | 2,275.31 |
| Change that session | +0.87% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Bitcoin ETFs sink into October outflows with $643M exit after Binance hack
US spot Bitcoin ETFs saw $643 million in net withdrawals on Friday, pushing October's net flows to a $515 million outflow, their first negative month since June, according to SoSoValue. The sell-off followed Binance's confirmation that hackers stole about $6.3 billion in crypto assets, and Bitcoin's drop to $77,000 the previous day. BlackRock's IBIT led Friday's outflows with $234 million, followed by Fidelity's FBTC with $201 million. OneKey's founder warned that IBIT could face similar security risks because it relies heavily on Coinbase to hold its Bitcoin, while Ether ETFs recorded a record $1.61 billion in October net outflows.
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U.S. spot Bitcoin, Ethereum and Solana ETFs recorded net outflows of nearly 790 million USD on October 30, as the crypto market came under pressure after a cyberattack led to the theft of about 6.3 billion USD in digital assets from Binance. Bitcoin ETFs alone saw 643 million USD withdrawn, concentrated in BlackRock's IBIT (233.7 million USD) and Fidelity's FBTC (201 million USD). According to Reuters, most of the assets were taken within about 20 minutes, while Binance said the incident involved a breach of its transaction approval system and that it would use company resources to cover losses. Bitcoin fell to 76,368 USD and Ethereum touched 2,178 USD before partially recovering. One expert said the bigger risk lies in liquidity disruption if Binance restricts deposits and withdrawals.
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Galaxy Research says a handful of hedge funds and banks drove almost all institutional selling of U.S. spot Bitcoin ETFs, while wealth platforms and sovereign funds bought. Holdings reported by institutions in 13F filings fell 14%, from 355,000 BTC at the end of September 2025 to 307,000 BTC by June 2026. Nine firms, including Millennium Management, Goldman Sachs and Tudor Investment, cut 68,000 BTC, roughly $5.4 billion at current prices, while Morgan Stanley's wealth management arm, Mubadala and the Abu Dhabi Investment Council were among the buyers. Galaxy says the sellers were mainly running cash-and-carry trades rather than betting on Bitcoin, as the front-month futures basis averaged 4.8% annualized in the 30 days to Oct. 21, just 0.6 points above Treasury bills, down from 7.9% before the all-time high. Since the June low, the funds have added 87,000 BTC, which Galaxy calls directional buying.
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A DWF Labs study finds Bitcoin ETF flows have limited predictive power because investors tend to chase performance, exiting after big declines and returning after big rallies. Price usually moves first, and the link between flows and price fades within a few days. Many spot ETF investors sell when Bitcoin drops only about 7%, and in five of eight major sell-offs, ETF selling intensified just days before a bottom. The largest fund, IBIT, with $68.7 billion in assets under management as of Oct. 23, reportedly carries no more signal than smaller rivals. The article concludes that investors should not put much stock in ETF flows.
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