Bitcoin ETF assets sink back to post-election lows despite…

U.S. spot bitcoin ETF net assets have slid to $77.58 billion as of June 9 — the same level recorded just after Donald Trump's November 2024 election victory — erasing every post-election gain even as Washington delivers the most crypto-friendly regulatory environment on record. The 11 spot ETFs registered net outflows of more than $5 billion over the past four weeks alone.

At their peak in October 2025, total net assets hit $169.54 billion and cumulative net inflows since inception reached $62.77 billion. Both figures have since reversed sharply: cumulative inflows have dropped nearly $9 billion to $53.77 billion, the lowest since August 2024.

Why it matters

The divergence between policy and price action is the story. The SEC under the Trump administration has dropped several high-profile enforcement actions, the U.S. has established a strategic bitcoin reserve, and the Digital Asset Market Clarity Act — which would draw jurisdictional lines between the SEC and CFTC — is advancing in Congress. None of it has stopped the outflows. Binance Research attributed the exodus to inflation driving the Fed hawkish while on-chain supply tightening remains intact. Ophelia Snyder, former co-founder of 21Shares, pointed to capital rotation: "You have ETF outflows as investors are increasingly distracted by other narratives competing for attention and capital, whether that's AI, SpaceX, or other high-profile growth stories."

Market impact

Lekker Capital CIO Quinn Thompson flagged one of the largest divergences between crypto and technology stocks in recent years, citing ongoing pressure from DAT issues, Strategy's STRC preferred shares, and quantum computing concerns. With macro headwinds — elevated inflation, geopolitical jitters around the Strait of Hormuz, and U.S.