Bitcoin ETFs Saw $220M in Inflows Despite BlackRock’s Selloff, Trump’s Tariff War

Coinspeaker
Bitcoin ETFs Saw $220M in Inflows Despite BlackRock’s Selloff, Trump’s Tariff War

Spot Bitcoin BTC $83 093 24h volatility: 1.1% Market cap: $1.65 T Vol. 24h: $56.34 B exchange-traded funds (ETFs) in the US recorded a net inflow of $220.7 million on April 2, while the broader market showed bearish sentiment toward US President Donald Trump’s new set of trade tariffs.

On Wednesday, April 2, Trump announced a 10% baseline tariff on imports and reciprocal tariffs on most of the US’s trade partners. China, the second-largest economy in the world, faced another 34% tariff from the US President, according to a Reuters report.

Despite the new set of tariffs, spot BTC ETF in the US saw $220 million in net inflow yesterday, according to data from SoSoValue. ARK & 21Shares’ ARKB and Fidelity’s FBTC led with $130.1 million and $118.8 million in inflows, respectively.

BlackRock’s IBIT fund, however, registered a net outflow of $115.9 million, according to SoSoValue.

The total BTF ETF trading volume reached $2.51 billion with a cumulative net inflow of $36.24 billion.

Spot Ethereum  ETH $1 816 24h volatility: 2.0% Market cap: $219.55 B Vol. 24h: $25.27 B   ETFs showed a negative reaction to the Trump tariffs. These investment products saw a net outflow of $51.3 million on April 2.

Grayscale’s ETHE and BlackRock’s ETHA recorded $31.1 million and $20.2 million in outflows, respectively.

Tariffs and Bears

Trump’s tariffs on the US trade partners brought bearish momentum to the digital asset market. The global crypto market capitalization declined by 0.96% to $2.68 trillion, according to CoinMarketCap data.

Bitcoin slightly dipped to $83,350 with a market cap of $1.65 trillion.

Ethereum, the leading altcoin, dropped 2% in the past 24 hours and is trading at $1,820 at the time of writing.

On the other hand, major US stocks like the S&P 500 and Dow Jones Industrial Average gained 0.67% and 0.56%, respectively.

While the new US trade tariffs haven’t brought a bearish storm to the crypto market, they could still prevent the market from gaining strong bullish momentum unless a major catalyst drives another bull run.

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Bitcoin ETFs Saw $220M in Inflows Despite BlackRock’s Selloff, Trump’s Tariff War