Bitcoin spot exchange-traded funds (ETFs) recorded a combined net outflow of $326m on April 8, extending a four-day streak of redemptions as investor appetite cooled following a string of macroeconomic concerns and rising geopolitical tensions.
According to SoSoValue data, BlackRock’s iShares Bitcoin Trust (IBIT) accounted for the bulk of the day’s losses, posting a net outflow of approximately $252.9m.
Ethereum spot ETFs also performed poorly. All nine funds recorded a total outflow of $3.29m. None reported any new inflows. The pullback in ETF flows comes as Bitcoin and Ether faced sharp sell-offs during early Asian trading hours on Wednesday.
None of the top 10 Bitcoin spot ETFs saw any net inflows during the day. Fidelity’s FBTC and VanEck’s HODL, among others, remained flat, reflecting a cautious investor mood.
Broader crypto markets mirrored this stress, shedding roughly 7% in total value to $2.4t in the past 24 hours. Altcoins offered little relief, with only scattered gains failing to offset the overall decline.
Investors are bracing for President Donald Trump’s sweeping new tariffs to take effect, while hopes for a near-term resolution fade.
Bitcoin fell 5.6% to $75,523, while Ether slid 10.7% to $1,417, driven by mounting concerns over a prolonged US-China trade war.
“This is proof that the crypto market is no longer siloed. It breathes the same air as TradFi, especially when fear is this palpable,” said James Toledano, chief operating officer at Unity Wallet.
Market watchers say the ETF outflows reflect a broader risk-off sentiment that has gripped both crypto and equities.