Bitcoin and Ether ETFs Experience Significant Outflows Amid Tariff Uncertainty
U.S.-listed spot bitcoin and ether exchange-traded funds (ETFs) experienced significant outflows on Wednesday despite a surge in cryptocurrency prices. Key points include:
- Bitcoin ETFs lost $127.2 million, with BlackRock's IBIT accounting for $89.7 million in withdrawals.
- This marks five consecutive days of outflows, totaling $722 million.
- Ether ETFs saw a net outflow of $11.2 million on the same day.
- Investor sentiment is affected by macroeconomic uncertainty from U.S.-China trade tensions and bond market volatility.
- Bitcoin rose over 8% to $83,500; ether increased 13% to $1,770 following President Trump's announcement of a 90-day pause on tariffs for over 75 nations.
- The Nasdaq 100 index jumped over 12%, marking its largest single-day gain in decades.