The Bitcoin exchange-traded funds in the United States experienced a wave of outflows last week, following escalating global trade tensions after U.S. President Donald Trump announced new tariffs on imports, raising fears of a trade war.

Twelve of the spot Bitcoin funds recorded a net outflow of $172.89 million, ending a two-week streak of positive investment inflows that saw nearly $941 million enter those funds. The data showed that outflows were concentrated on four of the five days between March 31 and April 4, with the daily flows as follows: $71.07 million on Monday, $157.64 million on Tuesday, $99.86 million on Thursday, and $64.88 million on Friday. Wednesday was the only exception, recording positive inflows of $220.76 million.