Spot Bitcoin ETFs See $713 Million Weekly Outflows Amid US Tariff Chaos

SoSoValue data reveals a concerning trend in the cryptocurrency exchange-traded fund (ETF) market, with significant outflows of about 300% observed in US Spot Bitcoin ETFs. The week ending April 12th saw a substantial $713.3 million withdrawn from the 12 spot Bitcoin ETFs, more than 300% more than the previous week’s $172.7 million outflows.

Spot Bitcoin ETFs Hit a Rough Spot

Capital Outflows occurred from April 7th to 11th, continuing a negative trend that started on April 3rd. Tuesday was the most significant outflow in a single day, with $326.27 million leaving the market. The week ended with a smaller outflow of just over $1 million on Friday.

Individual ETF results were different. BlackRock’s IBIT had the most significant losses, with $342.6 million leaving. According to Farside data, Grayscale’s GBTC lost $160.9 million, and Fidelity’s FBTC lost $74.6 million. Other ETFs, like BITB, BTCO, ARKB, EZBC, BTCW, and HODL, had outflows from about $11 million to $38 million.

Grayscale’s mini Bitcoin Trust was the only one doing well, gaining $2.4 million. Valkyrie’s BRRR had no change during the week.

Ethereum ETFs struggled like Bitcoin ETFs, with outflows rising by 65% to $82.47 million last week. This is the seventh week in a row of Ethereum ETF withdrawals, totaling over $877 million.

On April 9th, things calmed down when the tariff increases were paused for 75 friendly countries. But this didn’t last long. The United States then increased tariffs on some Chinese goods to 145%, saying China’s trade practices were unfair.

China responded with tariffs of up to 125% on U.S. goods and limited the export of rare-earth minerals. The growing trade war has increased worries and caused investors to sell off riskier assets, like Bitcoin and other cryptocurrencies.

The entire cryptocurrency market has dropped by about 2.1% in the last 24 hours. Despite this drop, Bitcoin has been strong, rising from last week’s low of $74,773 to almost $ 84,500 by Monday, April 14th.

Metaplanet Buys The Dip

Analysts suggest that Bitcoin is on the cusp of breaking out of its extended downtrend. They point out that the price is approaching a critical juncture that could trigger a new uptrend phase.

Metaplanet recently acquired 319 BTC in a separate development valued at approximately $26.7 million. This acquisition brings Metaplanet’s total Bitcoin holdings to roughly 4,525 bitcoins, with a total value exceeding $380 million. The average trading price for Metaplanet’s Bitcoin stash is $89,000 per BTC.

This significant purchase follows a previous acquisition of BTC valued at $68 million and underscores Metaplanet’s dedication to expanding its crypto asset holdings and solidifying its position as a prominent player in the cryptocurrency investment landscape.

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