Analyst: The uncertainty caused by tariffs leads to the outflow of funds from Bitcoin and Ethereum spot ETFs
Coindesk analyst Omkar Godbole stated that despite the surge in cryptocurrency prices after Trump announced a 90-day tariff suspension, there was still an outflow of funds from Bitcoin and Ethereum spot ETFs in the United States on Wednesday. The net outflow of Bitcoin ETFs totaled $127.2 million on Wednesday, with a cumulative outflow amounting to $722 million over the past five days. Ethereum ETFs saw an outflow of $11.2 million on Wednesday.
The decline in investor demand is due to macroeconomic uncertainty caused by tensions in Sino-US trade and fluctuations in the bond market, which may prompt large-scale sell-offs by macro investors of all assets including crypto ETFs, for cash.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
South Korea’s National Pension Service increases its MicroStrategy holdings to 93 million dollars
Japan to require crypto exchanges to hold liability reserves or purchase insurance
Animoca Brands establishes partnership with Solv Protocol
Trending news
MoreCrypto prices
More
