Crypto ETF Month — April 2024: net -$345.1M
April 2024 saw spot crypto ETFs register a net outflow of -$345.1M, primarily driven by Bitcoin. Despite strong inflows, outflows from major funds overshadowed market activity.
TL;DR
- Net flow: -$345.1M
- Total inflows: +$2.3B
- Total outflows: -$2.6B
- Strongest day: Apr 4 (+$213.4M) · Weakest day: Apr 8 (-$223.8M)
Monthly Overview
In April 2024, spot crypto ETFs experienced a net outflow of -$345.1M, with flows primarily concentrated in Bitcoin. Despite a total inflow of +$2.3B, the significant outflow of -$2.6B from Bitcoin dominated the month’s activity.
Flows by Asset
BTC
Net: -$345.1M / Inflow: +$2.3B / Outflow: -$2.6B
| Fund | Flow |
|---|---|
| Grayscale | -$2.5B |
| BlackRock | +$1.5B |
| Fidelity | +$556.1M |
| Bitwise | +$125.0M |
| 21Shares | -$86.3M |
| VanEck | +$37.7M |
| Franklin | +$20.8M |
| Invesco | +$10.8M |
| WisdomTree | +$5.4M |
| Valkyrie | -$0.3M |
Weekly Breakdown
| Week | Net flow |
|---|---|
| Apr 1 – Apr 5 | +$483.7M |
| Apr 8 – Apr 12 | -$83.3M |
| Apr 15 – Apr 19 | -$204.3M |
| Apr 22 – Apr 26 | -$328.0M |
| Apr 29 – Apr 30 | -$213.2M |
Biggest Fund Moves
Largest inflows
- BlackRock (BTC): +$1.5B
- Fidelity (BTC): +$556.1M
- Bitwise (BTC): +$125.0M
- VanEck (BTC): +$37.7M
- Franklin (BTC): +$20.8M
Largest outflows
- Grayscale (BTC): -$2.5B
- 21Shares (BTC): -$86.3M
- Valkyrie (BTC): -$0.3M
Market Interpretation
The outflows were largely driven by Grayscale, which saw a substantial withdrawal of -$2.5B. Other notable outflows came from 21Shares and Valkyrie, indicating a trend of capital leaving the market. The best day for inflows was April 4, with +$213.4M, while the worst day occurred on April 8, reflecting a strong selling pressure.
Conclusion
April concluded with a net figure of -$345.1M, reflecting the challenges faced by Bitcoin amid fluctuating investor sentiment. The month showcased a stark contrast between substantial inflows and dominant outflows.