Spot Bitcoin ETFs Post $643M in Outflows Amid Binance Hack Concerns
Photo: TheCoinrise
Funds from BlackRock and Fidelity led a wave of October redemptions as security fears rattled crypto markets. Spot Bitcoin exchange-traded funds shed $643 million in net assets, according to data reported by Coinpedia, Cointelegraph and Cryptopolitan. The outflows mark one of the largest single-period exits since these products launched in the United States. The withdrawals came during October, a month that had otherwise shown resilience in crypto fund flows. The trigger, according to the reports, was growing unease tied to hack fears surrounding Binance, one of the world's largest cryptocurrency exchanges.
Source: TheCoinrise
