Bitcoin ETFs Record $220 Million Inflows Amid Trump’s New Tariffs
On April 2, spot Bitcoin ETFs in the US experienced a net inflow of $220.7 million despite bearish market sentiment due to new trade tariffs announced by President Trump.
Key points:
- Trump introduced a baseline tariff of 10% on imports and a 34% tariff specifically on China.
- ARK & 21Shares’ ARKB and Fidelity’s FBTC led with inflows of $130.1 million and $118.8 million, respectively.
- BlackRock’s IBIT fund saw a net outflow of $115.9 million.
- Total BTF ETF trading volume reached $2.51 billion, with cumulative net inflows of $36.24 billion.
- In contrast, spot Ethereum ETFs recorded a net outflow of $51.3 million, primarily from Grayscale’s ETHE and BlackRock’s ETHA.
The global crypto market capitalization fell by 0.96% to $2.68 trillion. Bitcoin's price dipped to $83,350, while Ethereum decreased by 2% to $1,820. Major US stock indices, including the S&P 500 and Dow Jones, rose by 0.67% and 0.56%, respectively.
The new tariffs may hinder bullish momentum in the crypto market without significant catalysts for recovery.