US Bitcoin ETF Assets Fall Back to Post-Trump Election Levels After $5 Billion Outflow in Four Weeks
Summary
- The net assets of 11 US spot Bitcoin ETFs have fallen back to levels seen just after Trump's election victory, reaching $77.58 billion.
- Spot Bitcoin ETFs posted more than $5 billion in net outflows over the past four weeks, while cumulative net inflows fell to $53.77 billion.
- Industry participants said inflation pressures, a hawkish Federal Reserve, the AI investment boom, and macroeconomic uncertainty were behind the ETF outflows.
Forecast Trend Report by Period
US spot Bitcoin exchange-traded funds have slid back to asset levels last seen just after last year's US presidential election following a recent stretch of heavy outflows.
CoinDesk reported on June 10 that the 11 US spot Bitcoin ETFs held $77.58 billion in net assets as of June 9. That was roughly in line with the level seen shortly after Donald Trump was elected US president.
Spot Bitcoin ETFs expanded rapidly after the election on expectations of crypto-friendly policies. Net assets surpassed $90 billion soon after Trump's victory and reached a record $169.5 billion in October last year.
That trend has since gone into reverse. Spot Bitcoin ETFs have posted more than $5 billion in net outflows over the past four weeks.
Cumulative net inflows since the products launched have also declined. They peaked at $62.77 billion in October last year before falling to $53.77 billion, the lowest level since August last year.
The outflows do not appear to stem from a worsening regulatory environment. Since the Trump administration took office, the US Securities and Exchange Commission has withdrawn enforcement actions against several crypto companies. The US government is also pursuing a Strategic Bitcoin Reserve policy. Congress, meanwhile, is discussing the CLARITY Act, which would establish rules for crypto market structure.
Industry participants instead point to macroeconomic uncertainty. Binance Research wrote in a report that the recent ETF outflows reflected inflation pressures and a more hawkish Federal Reserve. It added that on-chain supply continues to decline.
Ophelia Snyder, former co-founder of 21Shares, also cited the investment boom tied to artificial intelligence. Investor attention and capital are shifting toward new growth stories such as AI and SpaceX, she said. Geopolitical risks in the Middle East, tensions surrounding the Strait of Hormuz, and concerns over US employment data and inflation are also dampening sentiment.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
