MarketsShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailBitcoin ETFs See No Growth Since Trump's Election Win
U.S.-listed spot ETFs have seen their net assets drop to levels comparable to those observed shortly after Trump's election victory in November 2024.
By Omkar GodboleUpdated Jun 10, 2026, 5:16 a.m. Published Jun 10, 2026, 5:13 a.m. 2 min readMake preferred on
Key points:
- The net assets of U.S. spot bitcoin ETFs have decreased to $77.58 billion, reverting to levels last seen immediately after Donald Trump's election victory in November 2024, despite a more favorable regulatory environment.
- Recent weeks have seen an increase in outflows, which analysts attribute to concerns over inflation and a surge in interest in AI.
Bitcoin BTC$62,194.32 spot exchange-traded funds (ETFs) have significantly lost their appeal among investors.
As of June 9, the total dollar value of net assets across 11 spot ETFs was recorded at $77.58 billion, matching the figures seen right after Trump’s presidential election win in early November 2024.
Bitcoin ETFs: Total net assets. (SoSoValue, Claude)This decline does not imply that the ETFs did not experience growth over the past 19 months. The optimism surrounding Trump's potential to implement friendlier crypto regulations initially led to a rise in bitcoin prices and ETF assets. Following his election win, total net assets surged past $90 billion within a week and peaked at an all-time high of $169.54 billion in October 2025.
However, those gains have since been wiped out, even as the Securities and Exchange Commission (SEC) under Trump’s administration lifted several prominent enforcement actions. The U.S. has also set up a strategic bitcoin reserve, and the Digital Asset Market Clarity Act is progressing in Washington, aiming to define jurisdictional boundaries between the SEC and CFTC and strengthen the industry legally.
Despite a more favorable regulatory landscape, investors have been withdrawing funds, leading to a decrease in net assets.
In the last four weeks, these ETFs have seen net outflows exceeding $5 billion. The cumulative net inflows since inception reached a peak of $62.77 billion in October 2025 when bitcoin hit its all-time high, but have since dropped nearly $9 billion to $53.77 billion, the lowest level since August of last year.
Analysts attribute the recent outflows to macroeconomic factors, particularly high inflation rates.
"ETF outflows reflected short-term pressure as inflation drives the Fed hawkish, while on-chain supply tightening remains intact," stated Binance Research in a report provided to CoinDesk.
Ophelia Snyder, a market analyst and former co-founder of 21Shares, remarked that the burgeoning interest in AI and other popular sectors is diverting capital away from crypto investments. She noted, "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. You have ongoing market jitters around geopolitics, the Strait of Hormuz, U.S. jobs data, inflation, and broader macroeconomic uncertainty," she added in an email.
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