Bitcoin ETFs Bleed Cash Amid Trump's Tariff Turmoil

Spot Bitcoin ETFs Suffer $172.89 Million Outflow

Hang onto your hats, folks! The U.S. spot Bitcoin ETFs just took another hit, bleeding out a whopping $172.89 million last week. And guess what? It's all thanks to President Donald Trump's new tariffs, which he's calling 'Liberation Day' duties. Talk about a buzzkill!

Two-Week Inflow Streak Snapped

According to the data wizards at SoSoValue, these 12 Bitcoin ETFs had been on a roll, pulling in nearly $941 million over the past two weeks. But that streak came to a screeching halt as investors hit the eject button.

Outflows Dominate the Week

Get this: out of the five days between March 31 and April 4, these ETFs saw outflows on four of them! Monday kicked things off with $71.07 million in outflows, followed by a massive $157.64 million on Tuesday. Thursday wasn't much better at $99.86 million, and Friday rounded out the week with $64.88 million. The only bright spot was Wednesday, with a sweet $220.76 million in inflows. But it wasn't enough to stop the bleeding.

Grayscale GBTC Takes the Biggest Hit

Grayscale's GBTC was the biggest loser, coughing up $95.5 million last week. WisdomTree's BTCW wasn't far behind, losing $44.6 million. And let's not forget about IBIT, BITB, ARKB, and HODL, which saw $35.5 million, $24.1 million, $22.2 million, and $4.9 million in net redemptions, respectively. Ouch!

Some ETFs Still See Inflows

But wait, it's not all doom and gloom! Grayscale's spot Bitcoin Trust, Franklin Templeton's EZBC, and Fidelity's FBTC managed to pull in a combined $61.8 million. The rest of the BTC ETFs? Flat as a pancake over the five days.

Ethereum ETFs Also Suffer

And it's not just Bitcoin feeling the pain. Ethereum ETFs took a $49.93 million hit last week, marking six straight weeks of withdrawals totaling over $795 million. Yikes!

Bitcoin's Worst First Quarter Since 2018

These outflows come as Bitcoin had its worst first-quarter performance since 2018. And with Trump's new tariff plans, starting with a flat 10% on all imports and higher rates for certain key trading partners, investor sentiment is weaker than a wet noodle. The fear of a new global trade war is real, folks!

Crypto Market Takes a Nosedive

At press time, the crypto market was down nearly 10% over the past day. Bitcoin itself took a 9.3% hit, falling below the $76,500 mark. And if you remember, BitMEX co-founder Arthur Hayes warned that this level had to be held to avoid even deeper losses. Looks like we're in for a wild ride!