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Binance's concerns over hacker attacks rise; spot Bitcoin ETF saw a net outflow of $643.3 million in a single day
Coinpedia
1h ago
Ai Focus
Spot Bitcoin ETF recorded a net outflow of $643.3 million last Friday, the largest single-day withdrawal since June 25; Ethereum ETF saw a net outflow of $155.9 million during the same period. Reports indicate that after concerns about Binance being hacked intensified, investors generally shifted towards reducing risk, but analysts believe this was more of a risk-averse move rather than a panic sell-off.
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Binance's concerns over a hacker attack intensify; spot Bitcoin ETF saw a net outflow of $643.3 million in a single day

Spot Bitcoin ETF recorded a net outflow of $643.3 million last Friday, marking the largest single-day withdrawal since June 25th.

Ethereum ETF also faced selling pressure on the same trading day, with $155.9 million in capital outflows recorded.

Reports indicate that this round of capital withdrawals occurred after news of Binance being hacked sparked concerns, prompting investors to take more widespread risk-reducing measures.

However, analysts described this outflow of funds as a "risk aversion" event, rather than a "panicky sell-off."

The report indicates that the outflow of funds from Bitcoin ETF accounts for less than 1% of its total managed assets, suggesting that the current selling activities have not yet indicated a broader loss of confidence among institutional investors.

Author: Nidhi Kolhapur; Source: CoinPedia.

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