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Title: Trump Tariff Ease But Bitcoin ETFs Outflow Cross $1 Billion! ETH ETF Follows!
As the US-China trade tensions continue to escalate, investors are pulling funds from cryptocurrency exchange-traded funds (ETFs), resulting in massive outflows. Despite President Donald Trump announcing a 90-day pause in tariffs, the crypto market is still reeling in shock.
Bitcoin and Ethereum ETF Outflows Reach New Heights
Recent data shows that Bitcoin ETFs have faced continuous outflows since March 28, with total outflows now exceeding $1.03 billion. This significant outflow has left experts convinced that ongoing trade tensions are prompting investors to liquidate assets, opting for cash instead.
BlackRock’s iShares Bitcoin Trust ETF (IBIT) led the outflow charge with a staggering loss of $89.7 million, followed closely by Grayscale’s GBTC with an outflow of $33.8 million. Other notable mentions include Fidelity’s Ethereum ETF (FETH), which saw a significant decline in value.
Meanwhile, cryptocurrency prices have surprisingly continued to climb, with Bitcoin and Ethereum surging 7% and 8%, respectively, over the last 24 hours. The current trading price for Bitcoin stands at $81,964, while Ethereum hovers around $1,600.
Despite the ongoing crisis, investors are taking a cautious stance, liquidating their assets in favor of holding cash.
Source: https://coinpedia.org/news/trump-tariff-ease-but-bitcoin-etfs-outflow-crosse-1-billion-eth-etf-follows/
