CandleFocus

Bitcoin ETFs switch to outflows as Trump’s tariffs shake markets

Bitcoin exchange-traded funds (ETFs) in the US experienced outflows on February 3 as Bitcoin's price dropped to a three-week low. The outflows coincided with President Donald Trump's announcement of new tariffs on Canada, Mexico, and China, which led to fears of a global trade war. The outflows amounted to $234.54 million across 12 Bitcoin ETFs, with the majority coming from Fidelity's FBTC. However, Grayscale's GBTC saw a rare inflow of $8.02 million. Despite the outflows, Bitcoin ETFs saw a surge in trading activity. Bitcoin's price recovered slightly following an agreement to suspend the tariffs for one month.

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