Bitcoin ETF Net Assets Fall Back to Pre-Election Levels Despite Regulatory Progress
The total net assets of U.S.-listed spot Bitcoin ETFs have fallen to $77.58 billion, the same level seen just after Donald Trump won the presidential election in November 2024. This decline comes despite a favorable regulatory environment, including the establishment of a strategic bitcoin reserve and the advancement of the Digital Asset Market Clarity Act. After peaking at $169.54 billion in October 2025, post-election gains have been erased. The ETFs have seen net outflows of over $5 billion in the past four weeks, and cumulative net inflows have dropped to $53.77 billion, the lowest since August 2025. Analysts attribute the outflows to macroeconomic factors such as elevated inflation and hawkish Federal Reserve policy. Additionally, competition for capital from other trending sectors like AI and SpaceX is diverting investor attention, according to market experts.
Key facts
- Spot Bitcoin ETF net assets fell to $77.58B, same as Nov 2024 election levels.
- Peaked at $169.54B in Oct 2025, but post-election gains erased.
- Over $5B net outflows in four weeks; cumulative inflows lowest since Aug 2025.
- High inflation and Fed hawkishness cited as macro headwinds.
- AI and SpaceX narratives diverting capital from crypto.