Bitcoin ETFs bleed on Trump-Musk fallout as sentiment turns to fear

Bitcoin exchange-traded funds (ETFs) successful the United States turned reddish amid worsening sentiment stemming from the ongoing feud betwixt US President Donald Trump and billionaire Elon Musk.

After a little betterment connected June 3 and 4, US spot Bitcoin (BTC) ETFs were again deed with outflows connected Thursday, totaling $278 million, according to SoSoValue data.

The outflows came arsenic the Cryptocurrency Fear & Greed Index flipped from “Greed” to “Fear” connected June 6, apt successful effect to the rupture of the antecedently adjacent narration betwixt Trump and Musk, which has played retired successful aggregate explosive societal media posts.

The Cryptocurrency Fear & Greed Index turned to “Fear” aft astatine slightest a period of beardown sentiment. Source: Alternative.me

The sentiment displacement is not exclusive to Bitcoin and crypto, with galore investors spooked by the feud. Tesla (TSLA) shares plunged 14%, portion Trump Media (DJT) shares dropped 8%, according to TradingView.

Bitcoin ETFs already struggling

The latest outflows from US spot Bitcoin ETFs followed a two-day betterment coming aft a bid of outflows from May 29 to June 2, totaling $1.2 cardinal successful conscionable 3 trading days.

Global Bitcoin exchange-traded products saw $8 cardinal of outflows successful the past trading week, portion Ether (ETH) ETPs topped inflows astatine $321 million.

Spot Bitcoin ETF flows from May 29 to June 5, 2025. Source: SoSoValue

According to SoSoValue, ARK Invest’s ARK 21Shares Bitcoin ETF(ARKB) led the exodus connected June 5 with a monolithic $102 cardinal successful outflows. None of the funds saw inflows connected the day.

Ether ETFs shaken but inactive connected inflow streak

While Bitcoin ETFs flipped to outflows amid the Trump-Musk feud, Ether ETFs continued to spot inflows connected Thursday.

According to SoSoValue, US spot Ether ETFs saw $11.3 cardinal of inflows connected June 5, marking 14 days of consecutive inflows. On the different hand, yesterday’s inflows were a noteworthy driblet from $56.9 cardinal of inflows connected June 4 and $109.4 cardinal of inflows connected June 3.

Related: Trump Media files for spot Bitcoin ETF support from SEC

Spot Ether ETF flows from May 28 to June 5, 2025. Source: SoSoValue

Ether ETPs person attracted attraction amid improving web fundamentals and resilient ETH futures markets.

BlackRock — the world’s largest crypto ETF issuer — purchased $50 cardinal worthy of Ether connected June 3, according to the blockchain analytics level Arkham.

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