Recent tariff announcements from Donald Trump have significantly impacted the Bitcoin ETF market, leading to a notable outflow of funds.
Outflow from Bitcoin ETFs
According to Sosovalue, U.S. Bitcoin ETFs reported a net outflow of $99.86 million on April 3, following a day when $220.76 million was attracted on the day tariffs were announced on more than 50 countries. This week, the total net selling reached $107.81 million.
Sales Figures of Popular ETFs
A significant share of the outflow came from Grayscale’s GBTC ETF, which saw a loss of $60.2 million. It was followed by Bitwise BITB with $44.19 million and Fidelity FBTC with $23.27 million. Other ETFs like Ark and 21Shares ARKB, VanEck HODL, and WisdomTree BTCW also experienced negative inflows.
Current Trends in the Bitcoin Market
Bitcoin continues to experience dramatic volatility. As of writing, Bitcoin's price near $83,000 is down over 6% from the weekly high. Investors are exercising caution in light of the recent all-time high and anticipating a potential healthy correction in the market.
The situation in the Bitcoin ETF market highlights the volatility and caution of investors. Analyzing current trends is crucial for understanding future movements in the cryptocurrency market.
