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

Investors withdrew $643.33 million from US spot Bitcoin ETFs on October 30, according to SoSoValue, one day after hackers took about $6.3 billion from Binance. These ETFs let brokerage customers hold Bitcoin like a stock; they held $98.14 billion in assets, and the outflow ended a four-day run of inflows. BlackRock’s iShares Bitcoin Trust lost about $234 million, with Fidelity and Ark Invest funds posting the next-largest exits. The October 29 Binance theft involved roughly $6.36 billion moved across 10 blockchains, mostly within 20 minutes, and analytics firm TRM linked it to TraderTraitor, a North Korean hacking unit; Binance suspended deposits and withdrawals and said user funds were safe. About $2.7 billion of stolen assets had been frozen, TRM said.