The growing trade tensions between the United States and China have greatly impacted the American Bitcoin ETF. These financial products recorded a net release of $ 713 million last week, marking their seventh consecutive withdrawal day.
A difficult week for Bitcoin ETF
The American Bitcoin ETF experienced a particularly difficult period. On Friday, April 11, these funds recorded a net exit of $ 1.03 million, according to data from Sosovalue.
This day represents the seventh consecutive day of capital outings, bringing the weekly total to $ 713 million.
Most Bitcoin Spot ETF, including the Ibit of BlackRock (the most important in terms of net assets), have not recorded any net flows at the end of the week.
Only two funds showed significant activity on Friday: ETF Bitcoin Ark 21Shares (ARKB) attracted $ 11.28 million, ending six days of outings, while Bitwise Bitcoin Etf (BitB) lost $ 12.31 million.
These figures bear witness to a drop in interest for American investors for financial products related to cryptos in an uncertain economic context.
Trade tensions impact the entire Crypto market
The disappointing performance of Bitcoin Spot ETF is widely explained by climbing trade tensions between the United States and China. This instability pushes investors to turn away from the assets considered to be risky, including cryptos.
The impact is also felt on other American crypto products. The ETHE Ether Spot recorded a total net output of $ 29.2 million on Friday, marking their fourth consecutive day of withdrawals.
The Bitcoin price also suffered, falling at around $ 74,000 at the start of last week. However, the crypto rebounded above $ 83,000 after President Trump suspended customs duties on imports from all countries, except China.
Bitcoin has particularly reacted to the exemption granted to computer devices, smartphones and electronic chips of new customs duties.
At the time of the editorial staff, Bitcoin is slightly negotiated above $ 84,500, displaying an increase of almost 10 % in a week, which shows a certain resilience despite the tense economic context.
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