U.S. spot bitcoin exchange-traded funds logged $99.86 million in net outflows Thursday, as the U.S. stock market tumbled following Trump's tariff announcement.
Grayscale's GBTC led the outflows with $60.2 million, followed by Bitwise BITB's outflows of $44.19 million and Fidelity FBTC's $23.27 million, according to SoSoValue data. Ark and 21Share's ARKB, VanEck's HODL and WisdomTree's BTCW also logged outflows.
However, BlackRock's IBIT, the largest spot bitcoin ETF by net assets, attracted $65.25 million, making it the only spot bitcoin fund to register net inflows on the day.
Thursday's $99.86 million outflow reversed the previous day's $220.76 million inflow amid a sharp downturn in financial markets. Investors were rattled after U.S. President Donald Trump announced a baseline 10% tariff on imports, with some countries facing tariffs exceeding 50%.
U.S. stocks plunged on the news, with the Nasdaq tumbling 6%, the S&P 500 dropping 4.8%, and the Dow falling 3.9%. The cryptocurrency market also felt the impact, as bitcoin dropped by more than 6% in response to the announcement.
Bitcoin was trading at $83,220 at the time of writing, down 0.13% over the past 24 hours, according to The Block's price page. Ether fell 1% to change hands at $1,805.
The spot ether ETFs in the U.S. saw $3.59 million in outflows on Thursday, following outflows of $51.24 million the previous day.
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