Bitcoin, Ethereum ETFs Shed $1 Billion Amid Trump Waffling on Greenland and Tariffs
The post Bitcoin, Ethereum ETFs Shed $1 Billion Amid Trump Waffling on Greenland and Tariffs appeared on BitcoinEthereumNews.com.
In brief Spot Bitcoin and Ethereum ETFs shed a combined $996 million on Wednesday. Investors’ retreat came amid a twist in President Donald Trump’s bid for Greenland. Bitcoin is behaving like a risk-on asset, according to an analyst. Investors pulled nearly $1 billion from exchange-traded funds tracking the spot price of Bitcoin and Ethereum on Wednesday, seeking refuge from cryptocurrency exposure as U.S. President Donald Trump struck a new chord in his approach to acquiring Greenland. The president said on his Truth Social platform on Wednesday afternoon that he had “a framework of a deal” regarding the Danish territory, as well as the Arctic region, following talks with NATO secretary Mark Rutte. Along those lines, Trump abruptly backed away from threats to impose tariffs on European nations that stood in opposition of his bid for the semi-autonomous island. Not long before, he also ruled out the use of force during his address in Davos, Switzerland. Markets rebounded following his comments after falling into the red Tuesday amid tariff uncertainty. On Thursday, Danish Prime Minister Mette Frederiksen signaled that she was receptive to Trump’s about-face, but she said in a statement that “we cannot negotiate our sovereignty,” pushing back against Trump’s assertion that the U.S. must own the territory for national security. The developments had all the making of a “TACO” situation, short for “Trump Always Chickens Out.” The acronym was coined last year in reference to Trump’s habit of announcing massive tariffs as a pressure tactic, only to reverse course once global markets begin to dip. Investors yanked $709 million for spot Bitcoin ETFs in the U.S. on Wednesday, the biggest single-day bleed since Nov. 20, according to CoinGlass. Meanwhile, spot Ethereum ETFs shed $287 million. However, the snapshot does not include flows from products listed in Europe. In…
Filed under: News - @ January 22, 2026 10:21 pm