Spot bitcoin ETFs see nearly $100 million in net outflows as stocks tumble on Trump’s tariff news
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.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.