On April 9, U.S. Bitcoin ETFs experienced net outflows of $127 million, extending their losing streak to five days. Despite President Trump’s announcement of a 90-day pause on new tariffs, the outflow trend continued, reaching nearly $800 million over five days. While Bitcoin ETFs struggled, global stocks, including those in Asia and Europe, surged. The Nasdaq recorded its best day since January 2001, driven by Trump’s tariff delay.
BlackRock’s IBIT was the hardest hit among Bitcoin ETFs, losing $89.71 million, while Grayscale’s GBTC saw $33.8 million in outflows. Smaller ETFs also suffered, with WisdomTree and VanEck’s HODL seeing redemptions. Only Bitwise’s BITB saw a positive inflow of $6.71 million. Ethereum ETFs faced similar struggles, though on a smaller scale.
Trump’s tariff pause ignited a global stock rally. European and Asian markets soared, with Germany’s DAX and Japan’s Nikkei 225 seeing significant gains. U.S. markets followed, with the Dow Jones and S&P 500 seeing substantial increases. Crypto-linked stocks like Coinbase and Strategy also rose.
Despite the stock market boom, the underlying tensions from potential escalations in China-U.S. trade wars loom. The crypto market rebounded with Bitcoin and Ethereum, posting gains alongside other altcoins. The global crypto market cap increased by 6.51% in one day, driven by heightened trading activity. The future impact of Trump’s tariff policies remains uncertain as the market assesses recovery momentum.
