Bombshell April Exit: U.S. Spot Bitcoin ETFs Bleed Cash as BTC Tumbles Below $95K

Outflows Rock ETFs Amid Economic Jitters and Trump's Tariff Threats

April slammed the door on U.S. spot Bitcoin ETFs, with money rushing out as Bitcoin crashed below the $95,000 mark. The plunge was fueled by nerves over Trump's looming tariffs and a wave of dismal U.S. economic data that's got everyone on edge.

SoSoValue's numbers don't lie: on April 30, these 12 Bitcoin ETFs hemorrhaged $56.23 million in outflows, snapping an 8-day run that had poured in a staggering $4 billion.

The brunt of the damage? That was on Fidelity's FBTC and ARK & 21Shares' ARKB, which saw brutal hits of $137.49 million and $130.79 million, respectively. Grayscale's GBTC and Bitwise's BITB weren't spared either, losing $31.96 million and $23.02 million.

But here's a glimmer of hope: BlackRock's IBIT, the heavyweight champ of BTC ETFs, managed to reel in $267.02 million, softening some of the blow. The rest of the Bitcoin ETF crew? They were just along for the ride, with no flows to report that day.

Despite the cash exodus, these funds were still trading like hotcakes, clocking in a whopping $2.39 billion in volume. Since their debut, they've gobbled up a massive $39.14 billion in net inflows.

Investors are playing it cool after Bitcoin's nosedive past $95,000, especially with the U.S. economy throwing some serious shade.

First up, the ADP jobs report was a gut punch, revealing a measly 62,000 private sector jobs added in April—way below the expected 108,000 and the weakest showing since July 2024.

Then, the first Q1 GDP estimate came in at a negative 0.3%, missing the mark by a wide margin against the forecasted +0.2%. And guess what's behind this GDP nosedive? A jaw-dropping 41% surge in imports, as companies scrambled to stock up before President Trump's latest tariff wave hits.

Right now, Trump's tariff plans are sending shockwaves through the markets. His crew is pushing for new tariffs on Chinese goods and select European products, aiming to give U.S. manufacturing a boost but also cranking up the risk of higher costs and supply chain chaos.

Companies are in a mad dash to import goods before these tariffs lock in, piling even more pressure on economic data and fueling the recent import frenzy.

These tariff jitters are feeding into a broader fear of stagflation—a nasty combo of sluggish growth and stubborn inflation—leaving investors in the dark about when or how much the Fed might slash rates.

As a result, riskier bets like tech stocks took a beating on April 30, with the Nasdaq plunging 2% and the S&P 500 slipping 1.5%. Bitcoin (BTC) wasn't immune either, dropping 2% to $93,438 before clawing back some ground today.