Spot Bitcoin ETF assets have slipped below the $100B mark.

Recent outflows added to year-to-date withdrawals, showing that some institutions are reducing exposure. This puts pressure on ETF holders and changes how large players may manage risk.

At the same time, there are small inflows into other crypto ETFs, which suggests rotation rather than a full exit.

Do you see this as a temporary shift or a longer-term change in positioning?

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