U.S. spot BTC ETFs had $77.58B of net assets on June 9, back to the same zone they were in just after Trump's November 2024 win despite a much friendlier regulatory backdrop. The products peaked at $169.54B in October 2025, but more than $5B has left in the past four weeks and cumulative inflows have slipped nearly $9B from their high to $53.77B. Macro and rate anxiety are hitting bitcoin demand while AI and other growth trades are stealing the marginal attention bid.

TLDR by @Benthic

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