Crypto ETF Month — January 2024: net +$1.5B
January 2024 saw a net inflow of +$1.5B into crypto ETFs, driven entirely by Bitcoin. Institutional capital flowed heavily into Bitcoin, overshadowing outflows from other funds.
TL;DR
- Net flow: +$1.5B
- Total inflows: +$7.1B
- Total outflows: -$5.6B
- Strongest day: Jan 11 (+$655.3M) · Weakest day: Jan 24 (-$158.3M)
Monthly Overview
In January 2024, the net flows into spot crypto ETFs were positive, amounting to +$1.5B. The growth was heavily concentrated in Bitcoin, which was the only asset to record inflows this month.
Flows by Asset
BTC
Net: +$1.5B / Inflow: +$7.1B / Outflow: -$5.6B
| Fund | Flow |
|---|---|
| Grayscale | -$5.6B |
| BlackRock | +$2.8B |
| Fidelity | +$2.5B |
| Bitwise | +$648.1M |
| 21Shares | +$645.1M |
| Invesco | +$293.8M |
| Valkyrie | +$113.5M |
| Franklin | +$62.0M |
| VanEck | +$57.5M |
| WisdomTree | +$8.4M |
Weekly Breakdown
| Week | Net flow |
|---|---|
| Jan 11 – Jan 12 | +$858.3M |
| Jan 16 – Jan 19 | +$318.1M |
| Jan 22 – Jan 26 | -$416.8M |
| Jan 29 – Jan 31 | +$700.0M |
Biggest Fund Moves
Largest inflows
- BlackRock (BTC): +$2.8B
- Fidelity (BTC): +$2.5B
- Bitwise (BTC): +$648.1M
- 21Shares (BTC): +$645.1M
- Invesco (BTC): +$293.8M
Largest outflows
- Grayscale (BTC): -$5.6B
Market Interpretation
Institutional investors primarily directed capital towards Bitcoin, with significant inflows from BlackRock (+$2.8B) and Fidelity (+$2.5B). Conversely, Grayscale saw notable outflows of -$5.6B, indicating a shift away from its products. The strongest performance occurred on January 11, with a daily net inflow of +$655.3M, while the worst day was January 24, which saw a decline of -$158.3M.
Conclusion
The month concluded with Bitcoin as the sole asset contributing to net inflows, totaling +$1.5B. This highlights a significant shift in investor sentiment towards Bitcoin amidst the overall market dynamics.