Spot bitcoin ETFs see $127 million in outflows amid market rally following Trump's tariff pause

U.S. spot bitcoin exchange-trade funds saw $127.12 million in net outflows on Wednesday despite a market rally after Trump declared a 90-day pause on new tariffs.

BlackRock's IBIT recorded net outflows of $89.71 million on Wednesday, and Grayscale's GBTC saw $33.8 million leave the product, according to SoSoValue data . VanEck's and WisdomTree's ETFs also logged outflows.

Bitwise's BITB was the only spot bitcoin ETF to report inflows, with $6.71 million flowing into the fund. Wednesday's outflows extended the streak of negative flows for these ETFs to five days.

The outflows from the ETFs coincided with rallies in both TradFi and crypto markets after U.S. President Donald Trump announced Wednesday a 90-day pause on most tariffs and reduced reciprocal duties to 10% for most countries, while raising tariffs on China to 125%.

U.S. stocks, including crypto-related stocks, soared on the news, recovering some of the losses from the past week. The Dow Jones Industrial Average jumped 7.87%, and the S&P 500 skyrocketed 9.52%. The Nasdaq shot up 12.16%, marking its biggest single-day gain since January 2001, according to CNBC. Coinbase's stock rose 16.91%, and Strategy (formerly known as MicroStrategy) closed 24.76% higher.

Asian stocks tracked Wall Street gains following Trump's signaled shift in trade policy. Japan's benchmark Nikkei 225 surged 8.68% so far on Thursday, while South Korea's Kospi rose 6.07%. The Shanghai Composite added 1.34%, and Hong Kong's Hang Seng gained 3.13%. These stock markets were still trading at press time.

Bitcoin traded 7.16% higher in the past 24 hours at $82,115 at the time of writing, and ether jumped 11.08% to trade at $1,617, according to The Block's price page .

"The market is rallying in response to anticipation that most trading partners will negotiate trade deals with the U.S., avoiding a full-fledged trade war," said Jeff Mei, COO of crypto exchange BTSE, adding that the traders remain cautious about the ongoing trade tensions between the U.S. and China.