What we track
Every US-listed spot ETF holding one of these 16 assets: Bitcoin, Ethereum, Solana, XRP, Hyperliquid, Chainlink, Hedera, Avalanche, Dogecoin, Litecoin, Sui, Polkadot, BNB, NEAR, Tron, Zcash. For each fund and trading day we publish one figure: the dollar value of shares created minus shares redeemed. A positive number is an inflow, a negative number an outflow, 0 means no creations or redemptions that day, and “—” means the fund has not reported yet.
How a daily flow is calculated
An ETF creates new shares when money comes in and redeems shares when it goes out, exchanging them for the coin it holds. The day’s flow is therefore the change in the fund’s shares outstanding, valued at its net asset value (NAV) per share:
flow(T) = (shares(T+1) − shares(T)) × NAV(T)Shares created on trading day T show up in the next day’s share count, so the figure for day T is known one business day later. Some funds report a share count that already includes the day’s orders; for them the flow is dated to the day the orders were placed. For a few funds without a usable daily share count we use the daily flow figures reported for the fund.
An asset’s total is the sum of its funds; the market total is the sum of all 16 assets.
When the numbers appear (T+1)
Flows are published one business day in arrears (T+1): the daily issue goes out early in the morning UTC with the previous trading day. Some funds publish later in the day, so a morning figure can be preliminary (marked “prelim.”) and is replaced by our full calculation in the evening.
Revisions
When a fund’s figure changes after publication we keep both numbers. A daily issue shows the figure at the time it was published; when the market total has moved noticeably since then, the issue carries a “Revised” note with the new figure and a link to that day on the dashboard. Funds that report late are listed separately.
Units and rounding
Flows are in US dollar millions with one decimal ($M), switching to billions ($B) above $1,000M. Totals are added up from unrounded fund values and rounded once, so a total can differ by $0.1M from the sum of the rounded rows above it.
CEFI sentiment index
Net flows of all 16 assets are added up in dollars. Three parts are scored against the past year: today's flow (40%), the 20-day trend (30%) and breadth, the share of funds with inflows (30%). Zero flow is 50; a typical inflow day scores about 69, a typical outflow day about 31.
Institutional holders (13F)
Holder data comes from Form 13F, which institutional managers with more than $100 million in US equities file with the SEC within 45 days after each quarter ends. Positions are as of the quarter end, not live.
SEC filings tracker
The filings tracker follows registration statements (S-1 and amendments) on SEC EDGAR, and exchange listing requests (19b-4) and SEC orders published in the Federal Register. Every date links to the original document.
Not investment advice
The data is for information only and is not investment advice.