Bitcoin ETF sees $127 million outflow amid market rally… 5th consecutive day of fund outflow

According to TheBlock on the 10th (local time), immediately after President Donald Trump announced a 90-day suspension of most import tariffs, the U.S. stock market and cryptocurrency market surged, but Bitcoin spot ETFs experienced a net outflow of $127.12 million. This marks a consecutive 5-day net outflow, in contrast to market recovery expectations. From BlackRock's IBIT, $89.71 million was withdrawn, and Grayscale's GBTC saw $33.80 million outflow. VanEck and WisdomTree ETFs also recorded fund outflows. In contrast, Bitwise's BITB ETF was the only one to record a net inflow of $6.71 million. Due to this tariff suspension, the U.S. stock market showed a sharp increase. The Nasdaq index rose 12.16%, recording its largest single-day increase since January 2001, S&P500 increased by 9.52%, and the Dow Jones Industrial Average rose 7.87%. Coinbase stock rose 16.91%, and MicroStrategy surged 24.76%. The Asian market also followed the U.S. trend. Japan's Nikkei 225 index jumped 8.68%, and the Korean KOSPI rose 6.07%. The Shanghai Composite Index increased 1.34%, and the Hong Kong Hang Seng Index rose 3.13%. Meanwhile, Bitcoin rose 7.16% during the day, trading at $82,115, and Ethereum increased 11.08% to $1,617. Jeff Mei, COO of BTSE, stated, "The market is reacting to expectations that most countries will negotiate trade agreements with the U.S.," adding, "However, tensions between the U.S. and China continue to encourage cautious market participation."