Crypto ETF Month — February 2024: net +$6.0B
February 2024 saw strong inflows into Bitcoin ETFs, culminating in a net increase of +$6.0B. Institutional investors primarily drove this growth.
TL;DR
- Net flow: +$6.0B
- Total inflows: +$8.8B
- Total outflows: -$2.8B
- Strongest day: Feb 28 (+$673.4M) · Weakest day: Feb 21 (-$35.6M)
Monthly Overview
In February 2024, net flows into spot crypto ETFs were predominantly positive, with total net inflows of +$6.0B. The focus was solely on Bitcoin (BTC), which accounted for all recorded flows this month.
Flows by Asset
BTC
Net: +$6.0B / Inflow: +$8.8B / Outflow: -$2.8B
| Fund | Flow |
|---|---|
| BlackRock | +$5.0B |
| Grayscale | -$2.8B |
| Fidelity | +$2.3B |
| 21Shares | +$932.7M |
| Bitwise | +$488.3M |
| VanEck | +$69.1M |
| Franklin | +$55.4M |
| Invesco | -$44.9M |
| WisdomTree | +$27.8M |
| Valkyrie | +$23.1M |
Weekly Breakdown
| Week | Net flow |
|---|---|
| Feb 1 – Feb 2 | +$118.5M |
| Feb 5 – Feb 9 | +$1.2B |
| Feb 12 – Feb 16 | +$2.3B |
| Feb 20 – Feb 23 | +$583.9M |
| Feb 26 – Feb 29 | +$1.9B |
Biggest Fund Moves
Largest inflows
- BlackRock (BTC): +$5.0B
- Fidelity (BTC): +$2.3B
- 21Shares (BTC): +$932.7M
- Bitwise (BTC): +$488.3M
- VanEck (BTC): +$69.1M
Largest outflows
- Grayscale (BTC): -$2.8B
- Invesco (BTC): -$44.9M
Market Interpretation
Institutional positioning showed significant capital inflows into Bitcoin, particularly from major funds like BlackRock (+$5.0B) and Fidelity (+$2.3B). However, Grayscale experienced substantial outflows of -$2.8B, indicating a notable shift in investor sentiment. The strongest day, February 28, saw inflows of +$673.4M, while the weakest day, February 21, recorded a slight outflow of -$35.6M, suggesting fluctuating interest levels throughout the month.
Conclusion
February concluded with a total net inflow of +$6.0B, reflecting a concentrated interest in Bitcoin. This trend underscores the asset's continued dominance in the ETF space.