Global crypto market rises 6.7%, but Bitcoin and Ethereum ETFs face continued outflows due to trade tensions - IcoHolder.

The global cryptocurrency market experienced a notable 6.7% surge in the last 24 hours, following President Donald Trump’s announcement of a 90-day pause in tariffs, providing a momentary reprieve for investors. However, despite the overall market boost, the sector continues to face challenges, particularly in exchange-traded funds (ETFs) tied to Bitcoin and Ethereum, which are still grappling with significant outflows.

Since March 28, Bitcoin ETFs have seen a steady stream of withdrawals, with total outflows now surpassing $1.03 billion. The brief respite came on April 2, when a $218.1 million inflow was recorded, driven by optimism surrounding Trump’s tariff halt. But the relief proved short-lived, as Bitcoin spot ETFs lost an additional $127.2 million on April 9 alone. The iShares Bitcoin Trust ETF (IBIT), managed by BlackRock, bore the brunt of the outflows, losing $89.7 million, followed by Grayscale’s Bitcoin Trust (GBTC), which saw $33.8 million in withdrawals.

Experts attribute the ongoing ETF outflows to the persistent U.S.-China trade tensions, which have led investors to liquidate crypto assets in favor of cash holdings. The geopolitical uncertainty is pushing many to adjust their portfolios, leading to the liquidation of investments in volatile sectors like cryptocurrencies.

Ethereum ETFs are also facing their own challenges, with nine Ethereum-based ETFs collectively losing $73 million since the start of April. On April 9 alone, these ETFs experienced $11.2 million in outflows, with Fidelity’s Ethereum ETF (FETH) and BlackRock’s Ethereum ETF (ETHA) seeing the largest declines, at $5.7 million and $5.5 million, respectively.

Despite the ETF sector’s struggles, the prices of Bitcoin and Ethereum remain resilient. Bitcoin has risen by 7% in the last 24 hours, reaching around $81,964, while Ethereum saw an 8% increase, trading around $1,600. This price growth demonstrates that, while ETF outflows may be impacting institutional investor sentiment, the broader crypto market continues to show strength, fueled by retail interest and ongoing market dynamics.