Bitcoin spot exchange-traded funds (ETFs) recorded a combined net outflow of $326m on April 8, extending a four-day streak of redemptions as investor appetite cooled following a string of macroeconomic concerns and rising geopolitical tensions.
According to SoSoValue data, BlackRock’s iShares Bitcoin Trust (IBIT) accounted for the bulk of the day’s losses, posting a net outflow of approximately $252.9m. Other funds also saw negative flows, including Grayscale’s GBTC with an $8.5m outflow, Ark’s ARKB with nearly $20m withdrawn, and Bitwise’s BITB losing $21.7m.
Cautious Sentiment Hits Bitcoin ETFs as Crypto Markets Reel From Tariff Tensions
None of the top 10 Bitcoin spot ETFs saw any net inflows during the day. Fidelity’s FBTC and VanEck’s HODL, among others, remained flat, reflecting a cautious investor mood. Ethereum spot ETFs also performed poorly. All nine funds recorded a total outflow of $3.29m. None reported any new inflows.
The pullback in ETF flows comes as Bitcoin and Ether faced sharp sell-offs during early Asian trading hours on Wednesday.
Bitcoin fell 5.6% to $75,523, while Ether slid 10.7% to $1,417, driven by mounting concerns over a prolonged US-China trade war. Investors are bracing for President Donald Trump’s sweeping new tariffs to take effect, while hopes for a near-term resolution fade.
Broader crypto markets mirrored this stress, shedding roughly 7% in total value to $2.4t in the past 24 hours. Altcoins offered little relief, with only scattered gains failing to offset the overall decline.
Crypto Markets Mirror Wall Street as Risk Appetite Fades
Market watchers say the ETF outflows reflect a broader risk-off sentiment that has gripped both crypto and equities.
“This is proof that the crypto market is no longer siloed. It breathes the same air as TradFi, especially when fear is this palpable,” said James Toledano, chief operating officer at Unity Wallet.
The ETF data suggests that institutional interest in crypto, which surged following January’s spot Bitcoin ETF approvals in the US, may be tapering as macroeconomic and political headwinds intensify.
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