Bitcoin exchange-traded funds (ETFs) in the United States recorded significant net outflows of nearly $100 million on Thursday, coinciding with a sharp decline in the U.S. stock market.
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The downturn was triggered by President Donald Trump’s announcement of new tariffs, which unsettled investors. Among the funds affected, Grayscale’s GBTC saw the most substantial outflows, losing over $60 million. Bitwise’s BITB and Fidelity’s FBTC also faced heavy outflows, totaling around $44 million and $23 million, respectively. Additional spot bitcoin ETFs, including Ark and 21Share’s ARKB, VanEck’s HODL, and WisdomTree’s BTCW, reported withdrawals as well.
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In contrast, BlackRock’s IBIT, the largest spot bitcoin ETF by net assets, was an outlier, attracting more than $65 million on the same day, making it the only fund to record positive net inflows.
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Crypto Expert Sees Bitcoin Going for a Rally After Tariff Shock The net outflow of almost $100 million marked a stark reversal from the previous day’s influx of approximately $221 million, as market sentiment shifted following the announcement of a baseline 10% tariff on imports, with some countries facing significantly higher rates of over 50%. This policy change led to a considerable sell-off in both traditional and digital markets.
Major U.S. stock indices took a hit, with the Nasdaq losing 6%, the S&P 500 dropping 4.8%, and the Dow Jones falling by 3.9%. The cryptocurrency market also reacted negatively, with bitcoin experiencing a more than 6% drop. At the time of reporting, bitcoin was priced at around $83,220, reflecting a minor decline of 0.13% over the past day, while ether fell 1% to approximately $1,805.
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Additionally, U.S. spot ether ETFs continued to see outflows, losing $3.59 million on Thursday, following even larger outflows of over $51 million the day before.
Alexander Stefanov
