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Following President Donald Trump’s decision to suspend new tariffs on countries other than China for 90 days, the markets experienced a strong rally. However, there were significant outflows from spot Bitcoin 
$104,024 ETFs, with a total net outflow of $127.12 million recorded on Wednesday. The largest outflow was from BlackRock’s IBIT fund, which saw a net withdrawal of $89.71 million, while Grayscale’s GBTC fund experienced a withdrawal of $33.8 million. Funds from VanEck and WisdomTree also faced similar outflows.
Despite ETF Withdrawals, Bitcoin Climbs
While outflows continued from spot Bitcoin ETFs, Bitwise’s BITB fund stood out positively with an inflow of $6.71 million. This marked the fifth consecutive day of outflows, highlighting investors’ cautious stance towards ETFs despite the positive sentiment in the broader markets.
Trump’s announcement to pause tariffs and lower customs duties to 10% impacted the markets positively. The U.S. stock markets closed the day with significant gains, and the rise in the cryptocurrency market was notable as well. Bitcoin surged by 7.16% to reach $82,115, while Ethereum 
$2,555 gained 11.08% to hit $1,617.
U.S. and Asian Markets Respond to Trump’s Decision
Trump’s retreat on tariffs prompted strong positive reactions in the markets. The Dow Jones rose by 7.87%, while the S&P 500 increased by 9.52%. The Nasdaq index soared by 12.16%, marking its largest daily jump since January 2001. Shares of the U.S.-based cryptocurrency exchange Coinbase rose by 16.91%, and shares of Strategy, known for its cryptocurrency investments, increased by 24.76% to close the day.
The positive atmosphere in U.S. markets reflected in Asian markets as well. The Nikkei 225 index in Japan rose by 8.68%, while South Korea’s Kospi index climbed by 6.07%. China’s Shanghai Composite Index increased by 1.34%, and Hong Kong’s Hang Seng Index rose by 3.13%.
Jeff Mei, COO of BTSE, commented on the market rally, noting that investors are acting on expectations of an agreement between the U.S. and its other trading partners, while still closely monitoring the ongoing tensions between the U.S. and China.
