Bitcoin and Ethereum ETFs Struggle Amid Looming Tariff Announcements

• Bitcoin and Ethereum ETFs face significant outflows amid uncertainty surrounding Trump’s tariff announcements.
• Bitwise Bitcoin ETF stands out with consistent inflows despite a wider trend of fund withdrawals.
• Ethereum ETFs experience modest outflows while 21Shares Core Ethereum ETF sees small gains.

U.S. spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) are facing challenges, coinciding with President Donald Trump’s anticipated “Liberation Day” tariff announcements. Trump’s administration once fueled optimism in the crypto markets, particularly pushing Bitcoin prices above $100,000. However, it seems his influence has waned in the crypto space as these funds face growing outflows.

Bitcoin ETFs Experience Consecutive Outflows

Bitcoin ETFs are feeling the pressure, with outflows reaching $157.64 million on April 1, 2025. This marks the third consecutive day of withdrawals, following a brief pause. Among the Bitcoin ETFs, the Bitwise Bitcoin ETF (BITB) remains a bright spot. It attracted $24.53 million in net inflows, bringing its total to $2.02 billion in cumulative net inflows. The fund now holds $3.26 billion in net assets, ranking it fourth in size.

Some Bitcoin-related exchange-traded funds (ETFs) are struggling in the market. ARK 21Shares Bitcoin ETF (ARKB) suffered the biggest net outflow of $87.37 million over this time period. Despite this, the fund still holds $3.95 billion in assets. The Fidelity Wise Origin Bitcoin Trust (FBTC) suffered $85.35 million in outflows which doubled its cumulative flows to reach $11.38 billion and increased net assets to $16.42 billion. 

The Bitcoin Trust managed by Grayscale experienced $10.07 million in fund withdrawals. Total GBTC outflows have reached a massive $22.54 billion which has reduced its net asset value to $16.42 billion. The WisdomTree Bitcoin Trust (BTCW) posted a $6.76 million decline in assets, leaving it with $149.65 million in net assets.

Ethereum ETFs Show Similar Trends

Ethereum ETFs also experienced a decline. On April 1, Ethereum ETFs recorded $3.58 million in total net outflows. The 21Shares Core Ethereum ETF (CETH) stood out, posting modest inflows of $1.72 million. CETH has garnered $13.33 million in cumulative net inflows and commands $10.49 million in net assets.

The Bitwise Ethereum ETF ( ETHW ) saw $2.6 million in outflows, reducing its cumulative net inflows to $317.67 million. Its net assets now total $178.75 million. Similarly, Grayscale’s Ethereum Mini Trust lost $2.6 million, with total net inflows reaching $567.88 million and assets standing at $869.31 million.

The recent trends suggest a challenging period for Bitcoin and Ethereum ETFs as the looming tariff announcements from the Trump administration add uncertainty to the market.