U.S. spot Bitcoin ETFs shed $643.2 million on Friday, marking their biggest single-day outflow in October, following a $6.4 billion hack at Binance that began Thursday evening after U.S. markets closed.
The outflow erased a four-day inflow run of $441 million, leaving Bitcoin ETFs down about $202 million for the week. Bitcoin funds have accumulated $57.4 billion in net inflows since launching in January 2024, with total net assets at $103.2 billion.
Ethereum and Solana ETFs experienced steeper declines relative to their size. Ethereum funds lost $155.7 million on Friday, extending a five-day outflow streak to approximately $431 million. Solana ETFs shed $10.8 million, their fifth consecutive day of outflows, totaling about $72 million for the week.
Bitcoin fell approximately 4% on Friday to roughly $76,400 before steadying near $77,520 by Saturday, down 3.3% for the week. Ethereum traded near $2,251, down 3.9% weekly, while Solana traded near $96, down 4.5%. Total crypto market capitalization held at approximately $2.7 trillion.
Binance pledged to cover all losses with company funds and an emergency reserve. Tether and Circle froze more than $2.3 billion in stolen stablecoins. The breach prompted more than $1.3 billion in leveraged position liquidations, though the market response was relatively modest compared to a 2018 failed attack on Binance that triggered an 11% decline.
The Federal Reserve maintained rates at 3.75% to 4% on Wednesday, with traders pricing in above 70% odds for a rate increase in December.
