Friday, October 30, was the first full US trading day after the Binance hack, and US spot Bitcoin ETFs recorded net outflows of $643.3 million that day. It was the largest single-day outflow since June 25, according to SoSoValue data cited by The Block on November 1. Spot Ether ETFs also lost $155.9 million the same day, their largest since October 7.
That is a large daily flow, and it is worth saying so plainly. The context matters too, because two analysts quoted by The Block read the day as risk reduction, not institutional panic.
Where the money left from
The fund-by-fund breakdown comes from Farside Investors. BlackRock's IBIT saw the largest outflow, $233.7 million, followed by Fidelity's FBTC at $201 million and ARK's ARKB at $129.5 million. Grayscale's GBTC lost $53.3 million and Bitwise's BITB $25.7 million.
The outflow also reversed four straight days of inflows worth about $440.8 million in total. For the week ending October 30, Bitcoin ETFs still recorded net outflows of $202.6 million, and Ether ETFs $431.5 million.
One revision is worth noting, so readers do not get confused by an older figure. Early reports on October 31 put the day at $409.5 million, before IBIT had reported. The final $643.3 million figure arrived once IBIT was included. The gap is not two different events, it is one day whose data was completed later.
Not an ETF bank run
Jeff Ko, chief analyst at ViaBTC, called the outflow more of a sentiment shock. His reason is concrete: spot ETF holders have no direct exposure to Binance, because the underlying Bitcoin sits with regulated custodians. Rick Maeda of Laevitas added the scale that calms the headline down: $643 million is under 1% of the $98.14 billion in total net assets held by spot Bitcoin ETFs.
Maeda described the day as de-risking, not capitulation and not a loss of institutional confidence. Prices backed that reading, at least for the moment. Bitcoin rose about 1% over 24 hours to $78,491 on Sunday night ET, and ether climbed 1.3% to $2,296, according to The Block's price page. The Fear & Greed Index stood at 37 on Sunday, still in fear territory.
What flow data cannot prove
Flow data records money entering and leaving funds, not each investor's reason. The sequence is clear, the hack on Thursday, the outflow on Friday, but sequence alone does not prove the hack drove every redemption. Some of it could be portfolio rebalancing or liquidity needs that happened to land on the same day.
The analysts quoted by The Block also do not promise a quick snap-back. Maeda pointed to the Bybit hack in the first quarter of 2025 as a precedent and expects stabilization or modest outflows in the near term, as long as the Binance hack stays contained at its current scale. Ko added that market attention is now shifting to the US midterm elections on November 3, because the balance of power in Congress could shape how crypto market structure legislation moves.
For readers following the Binance sequence from the start, the context is this: Binance reopened withdrawals on November 1, and the first 9.5 hours recorded $3.64 billion in net outflows, as in our article on that reopening. The full zk-SNARK reserve proof is still due on November 3. The FBI's attribution of the hack is in our FBI article.
Sources: The Block (Nov 1, 2026, SoSoValue data and Farside Investors data via VietnamPlus, Nov 1, 2026), CryptoCompass on the early-figure revision (Oct 31, 2026). Figures are snapshots at writing time, midday November 2, 2026 WIB, and can change.
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