Bitcoin exchange-traded funds (ETFs) lost $643.33 million in net outflows Friday, wiping out four consecutive days of inflows and leaving the week roughly $202.6 million in negative territory. The selloff extended beyond bitcoin, with Ether ETFs losing $155.85 million and Solana ETFs recording $10.74 million in redemptions as the Binance hack deepened risk aversion across crypto markets.
Major Products Lead the Retreat
Friday's outflows were distributed across multiple large bitcoin ETF products rather than concentrated in a single fund. Blackrock's IBIT lost $233.70 million, Fidelity's FBTC shed $201.04 million, and Ark & 21Shares' ARKB recorded a $129.55 million exit. Grayscale's GBTC lost $53.32 million while Bitwise's BITB shed $25.72 million.
Trading volume surged to $6.35 billion, roughly three times Thursday's level. Overall net assets in bitcoin ETFs fell below $100 billion to $98.14 billion.
Ether and Solana Face Sustained Pressure
Ether ETFs experienced their fifth consecutive daily outflow on Friday. Blackrock's ETHA shed $76.64 million, while Grayscale's Ether Mini Trust and ETHE posted withdrawals of $34.14 million and $21.51 million respectively. Weekly ether outflows reached roughly $431.5 million.
Solana ETFs took weekly withdrawals to approximately $71.5 million after Friday's losses.
Security Concerns Resurface
The Binance security breach unfolded after Thursday's U.S. ETF session, making Friday the first full trading day for ETF investors to react to the news. The incident revived questions about custody concentration in institutional crypto products and security risks facing large-scale vehicles.
The breadth of Friday's selling across five major bitcoin ETF products suggests the risk reduction extended beyond a single portfolio or fund complex, contrasting with earlier October reversals that were often concentrated in individual funds.
