Last week saw significant outflows from spot Bitcoin ETFs in the U.S., with over $713 million pulled out according to SoSoValue data. This surge was driven by escalating trade tensions fueled by President Trump’s aggressive tariff plans. The trend began on April 3 and continued for several days, culminating in a peak of $326.27 million withdrawn on Tuesday before ending with minimal outflows on Friday. BlackRock’s IBIT, Grayscale’s GBTC, and Fidelity’s FBTC were among the ETFs to experience notable withdrawals, totaling around $342.6 million, $160.9 million, and $74.6 million respectively, based on Faside data. Only Grayscale’s mini Bitcoin Trust managed positive inflows, while Valkyrie’s BRRR remained stagnant. Meanwhile, Ethereum ETFs also witnessed a worrying trend of outflows, with a 65% increase in outflows to $82.47 million last week, marking the seventh consecutive week of withdrawals, totaling over $877 million. These declines are attributed to heightened uncertainty regarding Trump’s tariff plans and their impact on global markets. The escalation of trade tensions between the US and China, which saw tariffs increase from 10% to 145% and then 125%, has fueled investor anxieties about riskier assets like Bitcoin.