Bitcoin ETF Investors Flee After $6.4 Billion Binance Hack

Bitcoin exchange-traded funds (ETFs) suffered $643.2 million in outflows on Friday, marking the first full trading session after the record $6.4 billion Binance hack. The massive outflow ended October with roughly $516 million in net outflows, signaling a sharp reversal in investor sentiment. The hack, one of the largest in crypto history, has reignited concerns about exchange security and the safety of digital assets. Investors are pulling funds from regulated ETFs despite their perceived safety, highlighting how systemic risks in the crypto ecosystem can spill over into traditional investment vehicles. The outflows underscore a broader risk-off mood as traders reassess exposure to digital assets following the breach. With regulatory scrutiny intensifying and confidence shaken, the coming weeks will test whether this is a temporary blip or the start of a sustained exodus from crypto investment products.