Spot Bitcoin ETFs in the U.S. saw renewed inflows amidst Donald Trump's announcement of new tariffs.
Capital Inflow into Spot Bitcoin ETFs
On April 2, the 12 spot Bitcoin ETFs pulled in $220.76 million, breaking a three-day losing streak where over $320 million had flowed out. Most inflows went into ARK 21Shares’ ARKB and Fidelity’s FBTC, with $130.15 million and $118.79 million, respectively.
Impact of Tariffs on the Market
Trump’s new tariffs had a mixed impact on both the crypto and traditional markets. While most ETFs recorded inflows, BlackRock’s IBIT saw outflows of $115.87 million. Total trading volume across these ETFs hit $2.51 billion on the day.
Future of Bitcoin Amid New Tariffs
The Bitcoin market rebounded by 3.6% to $87,100 after an earlier dip, coinciding with Trump’s tariff announcement. Some analysts believe the measures may benefit Bitcoin in the long run.
Trump's new tariffs have created mixed conditions in the market, yet Bitcoin remains a steady indicator of the crypto sector.
