Bitcoin ETFs Record $127M Outflows Despite Crypto Market Rally

Highlights:

• U.S. Bitcoin ETFs see $127.2M in outflows amid market rally after tariff pause.
• Spot Ethereum ETFs face $11.2M outflows, led by BlackRock’s and Fidelity’s funds.
• U.S. stocks and crypto surge, with Bitcoin hitting $82K and Coinbase up 16.91%.

​On April 10, U.S. spot Bitcoin (BTC) Exchange-Traded Funds (ETFs) experienced net outflows totaling $127.12 million, despite a market rally following Donald Trump’s 90-day tariff pause. BlackRock’s iShares Bitcoin Trust (IBIT) saw $89.7 million in outflows, while Grayscale’s Bitcoin Trust (GBTC) experienced $33.8 million in withdrawals. VanEck Bitcoin ETF (HODL) and WisdomTree Bitcoin Fund (BTCW) also recorded outflows. of $4.7 million and $5.7 million, respectively. 

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Bitwise’s Bitcoin ETF (BITB) was the only spot Bitcoin ETF to see inflows, with $6.7 million entering the fund. The outflows on Wednesday marked the fifth consecutive day of negative flows for these ETFs.

On April 9, Spot Ethereum ETFs witnessed a total net outflow of $11.2 million. The outflows were led by BlackRock’s ETHA, which recorded a withdrawal of $5.5 million, followed by Fidelity’s FETH, which saw $5.7 million in outflows. All other ETFs recorded no inflows or outflows.

Tariff Pause Sparks Crypto Comeback

​The outflows from the ETFs occurred concurrently with significant rallies in both traditional financial (TradFi) and cryptocurrency markets. This market surge followed Donald Trump’s announcement on April 9 of a 90-day suspension of most tariffs. During this period, reciprocal tariffs were reduced to 10% for the majority of countries, while tariffs on Chinese imports were increased to 125%.

As Trump announced a 90-day suspension of the tariff war with most countries, the cryptocurrency market rose sharply, with ETH rising 15% to over $1,600 and XRP rising 15.3% to over $2. The liquidation amount in 24 hours reached $587 million, and the short position liquidation…

— Wu Blockchain (@WuBlockchain) April 9, 2025

After weeks of downward pressure from increasing tariffs, the crypto market finally saw relief. Bitcoin surged from $76K to $82K in a few hours, reaching levels not seen since Sunday. Ethereum rose 14% to surpass $1,600, while XRP gained 15%, crossing $2. Total liquidations over the past 24 hours reached $466.79 million, with $325.64 million coming from short positions, according to Coinglass.

Prior to the announcement, the crypto market was in decline. Bitcoin had dropped to $74,000, its lowest point in five months, following Trump’s tariffs on almost all U.S. trade partners. Ethereum and XRP also fell by over 20%. However, when news of the 90-day tariff pause emerged, the market quickly reversed course.

U.S. Stocks Surge on Trade Deal Hopes, Coinbase Jumps 16.91%

U.S. stocks, including those tied to the crypto sector, surged sharply following the announcement. They reclaimed a portion of the losses sustained over the past week. The Dow Jones Industrial Average leapt by 7.87%. The S&P 500 surged an impressive 9.52%. The Nasdaq soared 12.16%, marking its largest single-day gain since January 2001, according to CNBC. Shares of Coinbase jumped 16.91%. Strategy (formerly MicroStrategy) ended the day with a 24.76% increase.

Jeff Mei, COO at BTSE, told CoinDesk the market is rising due to hopes of trade deals with the U.S. This could help avoid a major trade war. However, he warned that U.S.-China tariffs may reshape global trade. He added that BTSE will stay cautious until the effects become clearer.

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