Crypto ETF Flows — April 2024
In April 2024, crypto ETFs experienced net outflows of $345.1M, with total inflows reaching $937.9M and outflows totaling $1.3B. The month featured a notable peak on April 4 with inflows of $213.4M and a significant downturn on April 8 with outflows of -$223.8M.
TL;DR
- Monthly net flow: net outflows of $345.1M (net -$345.1M).
- Total inflows: $937.9M. Total outflows: $1.3B.
- Strongest single day: 2024-04-04 ($213.4M).
- Weakest single day: 2024-04-08 (-$223.8M).
Monthly Overview
April 2024 comprised 30 trading days, characterized by a generally risk-off sentiment in the crypto ETF market. Despite a brief surge in inflows early in the month, the overall trend skewed towards outflows. For detailed insights, visit our crypto ETF dashboard.
Weekly Breakdown
- Week 1 (April 1-7): Started with net outflows of -$85.7M, then saw inflows increasing to a peak on April 4 with $213.4M, followed by a decline on April 8 with -$223.8M.
- Week 2 (April 8-14): Continued struggles with outflows, including a negative flow of -$19.4M on April 9 and a modest inflow of $91.3M on April 11.
- Week 3 (April 15-21): The week began with outflows, totaling -$36.7M and -$58.0M on April 15 and 16, respectively, before a slight recovery with inflows of $62.2M on April 22.
- Week 4 (April 22-30): Experienced a mix of minor inflows and significant outflows, notably -$120.6M on April 24 and -$217.6M on April 25, culminating in a closing downturn of -$161.6M on April 30.
Top Funds of the Month
| Fund | Net Flow | Direction |
|---|---|---|
| Grayscale (BTC) | -$2.5B | outflows |
| BlackRock (BTC) | $1.5B | inflows |
| Fidelity (BTC) | $556.1M | inflows |
| Bitwise (BTC) | $125.0M | inflows |
| 21Shares (BTC) | -$86.3M | outflows |
The data from the top funds indicates a notable capital rotation, with substantial inflows into BlackRock, Fidelity, and Bitwise, contrasted by significant outflows from Grayscale and 21Shares. This suggests a shifting investor sentiment, favoring certain players while pulling back from others.
Market Interpretation
The monthly flows reflect a cautious stance among institutional investors, as capital appears to be rotating primarily between the Bitcoin ETF and Ethereum ETF. The pronounced outflows from Grayscale may indicate a strategic repositioning among larger investors as they reassess their exposure to riskier assets. Overall, the data underscores a market grappling with volatility and uncertainty.
Conclusion
In summary, April 2024 concluded with net outflows of -$345.1M, despite an early surge in inflows. This month showcased the market's sensitivity to broader economic conditions, and investors are likely to remain vigilant in the coming weeks. For ongoing updates and the latest data, explore All ETF funds.