Bitcoin, Ethereum ETFs Shed $1 Billion Amid Trump Waffling on Greenland and Tariffs
Nearly $1 billion was withdrawn from U.S. spot Bitcoin and Ethereum ETFs as investors sought to reduce crypto exposure amid heightened geopolitical uncertainty. This followed statements from President Trump suggesting progress toward a Greenland acquisition deal and a subsequent softening of tariff threats against Europe, which reassured markets after previous declines. Danish Prime Minister Frederiksen welcomed Trump’s change in tone but reaffirmed Denmark’s sovereignty over Greenland. Bitcoin ETFs lost $709 million and Ethereum ETFs $287 million in one day, with both cryptocurrencies falling sharply after recent highs. Analysts attribute continued volatility to macroeconomic risks, short-term holder jitters, and disappointment over Coinbase withdrawing support for a crypto market structure bill. Despite temporary stabilization, optimism has faded, and overall sentiment remains cautious.
