US-based spot Bitcoin ETFs and Ether investment funds experienced substantial net outflows in October, following the high-profile Binance hack. According to CoinTelegraph, Bitcoin ETFs recorded a net withdrawal of $515 million during the month, reflecting investor caution amid market uncertainty.
Ether funds faced even larger exits, posting a record $1.61 billion in monthly outflows as reported by CoinTelegraph. The impact of the Binance hack significantly intensified the sell-off, with Bitcoin ETFs alone seeing a $643 million exit linked directly to the event.
These outflows highlight increasing risk aversion in the crypto space, a sentiment that Japanese investors may also feel as the local market closely watches regulatory developments and security incidents abroad.