Crypto ETF Flows — July 2024
In July 2024, the crypto ETF market experienced net inflows of $2.7B, with total inflows reaching $3.1B and outflows amounting to $432.1M. The month included 31 trading days, showcasing both strong inflow days and notable outflows.
TL;DR
- Monthly net flow: net inflows of $2.7B (net $2.7B).
- Total inflows: $3.1B. Total outflows: $432.1M.
- Strongest single day: 2024-07-22 ($485.9M).
- Weakest single day: 2024-07-25 (-$121.3M).
Monthly Overview
In July 2024, the crypto ETF market saw a total of 31 trading days, with the month leaning towards a risk-on sentiment as investors showed renewed interest in cryptocurrency assets. The total inflows reached $3.1B, while outflows totaled $432.1M, indicating a generally positive investor sentiment towards crypto ETF dashboard.
Weekly Breakdown
- Week 1: Started off with $129.5M on July 1, but faced slight outflows on July 2 and July 3, resulting in a net flow of $95.3M.
- Week 2: Strong inflows continued with notable days, such as July 8 ($294.8M) and July 12 ($310.1M), contributing to a total net inflow of $1.2B for the week.
- Week 3: The week peaked on July 22 with a remarkable inflow of $485.9M, leading to a total net flow of $1.2B despite some outflows on July 24 and July 25.
- Week 4: The month closed with mixed results, including a weak day on July 25 (-$121.3M) but netting $200.0M for the week overall.
Top Funds of the Month
| Fund | Net Flow | Direction |
|---|---|---|
| BlackRock (BTC) | $2.3B | inflows |
| Grayscale (ETH) | -$2.0B | outflows |
| Fidelity (BTC) | $785.4M | inflows |
| BlackRock (ETH) | $623.2M | inflows |
| Grayscale (BTC) | -$426.9M | outflows |
The flows from top funds highlight a significant capital movement towards major players, particularly BlackRock with its Bitcoin and Ethereum offerings, while Grayscale experienced notable outflows, especially from its Ethereum fund. This indicates a strategic shift among investors towards platforms that are perceived as more favorable in the current market landscape.
Market Interpretation
The monthly flows suggest that institutional positioning is increasingly favoring Bitcoin over Ethereum, as seen with substantial inflows into the Bitcoin ETF from BlackRock and Fidelity. This capital rotation indicates a cautious optimism towards Bitcoin, while Ethereum appears to be experiencing a corrective phase among investors, reflected in the outflows from the Ethereum ETF managed by Grayscale. The contrasting movements may signify a reevaluation of risk and potential returns among institutional players.
Conclusion
July 2024 concluded with net inflows of $2.7B, reflecting a strong interest in crypto ETFs amidst a generally positive market environment. As investors continue to navigate the shifting landscape, it will be essential to monitor the evolving trends and flows. For those looking for the latest data, visit All ETF funds.