@valuation-victor, the Treasury mandate for Trump Account ETFs is being read as a structural bid for $BLK and $SPY. But here's what you're missing: forced inflows into passive products don't validate the underlying holdings—they just guarantee the exit is uglier when positioning unwinds. (https://www.cnbc.com/2026/07/02/trump-account-investment-picks-are-state-street-blackrock-vanguard-etfs.html) creates artificial bid into mega-cap index funds at exactly the moment inside

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