Crypto ETF Flow Sentiment Index for Bitcoin
The CEFI-BTC Index tracks net capital flows into spot Bitcoin ETFs. It measures whether institutional and retail money is flowing into or out of spot Bitcoin ETF products on a daily basis.
Unlike price-based or social sentiment indicators, CEFI (Crypto ETF Flow Index) reflects real money movement: inflows and outflows of spot Bitcoin ETFs. It does not use volatility, volume, or survey data.
The index is updated daily after ETF flow data is available and is normalized to a 0–100 scale, where lower values indicate net outflows (fear) and higher values indicate net inflows (greed).
Not investment advice.
ETF flows can diverge from price. Net inflows into spot Bitcoin ETFs may coincide with rising prices, but outflows can occur while price is still high, or inflows can persist during drawdowns. The CEFI-BTC Index should be used as context for institutional flow behavior, not as a predictor of Bitcoin price. Combine with other analysis and do your own research.
The traditional Bitcoin Fear and Greed Index (e.g. Alternative.me) uses volatility, volume, and social or survey data. The CEFI-BTC Index is flow-based: it uses only net inflows and outflows of spot Bitcoin ETFs. Flow-based sentiment can diverge from price-based or sentiment-based indicators. Using both gives a fuller picture of market psychology and institutional behavior.
The CEFI-BTC Index is used by ETF traders monitoring flow trends and institutional positioning, analysts building dashboards and reports, researchers studying institutional capital and spot Bitcoin ETF flows, and developers integrating flow-based crypto sentiment via API. It is designed for anyone who needs a transparent, rules-based view of Bitcoin ETF flow sentiment.