Crypto ETF Flows — August 2024
August 2024 saw net outflows of -$86.0M, with total inflows at $1.1B and outflows also at $1.1B. The month experienced significant volatility with a notable best day inflow of $246.3M.
TL;DR
- Monthly net flow: net outflows of -$86.0M (net -$86.0M).
- Total inflows: $1.1B. Total outflows: $1.1B.
- Strongest single day: 2024-08-23 ($246.3M).
- Weakest single day: 2024-08-02 (-$291.7M).
Monthly Overview
In August 2024, the crypto ETF market experienced 31 trading days characterized by a balance of inflows and outflows. The month leaned towards a risk-off sentiment, as evidenced by the overall net outflows. For a more detailed analysis, visit our crypto ETF dashboard.
Weekly Breakdown
- Week 1: Mixed performance with an initial inflow of $77.3M, followed by a significant outflow of -$291.7M on August 2.
- Week 2: Continued volatility with a notable outflow of -$119.6M on August 5, but recovered slightly with inflows on subsequent days.
- Week 3: This week saw a strong rebound with a peak inflow on August 23 of $246.3M, offset by a negative streak towards the end of the month.
- Week 4: The last week was marked by a series of outflows culminating in -$175.6M on August 30.
Top Funds of the Month
| Fund | Net Flow | Direction |
|---|---|---|
| Grayscale (BTC) | -$910.0M | outflows |
| BlackRock (BTC) | $888.9M | inflows |
| Grayscale (ETH) | -$583.2M | outflows |
| BlackRock (ETH) | $389.4M | inflows |
| Grayscale BTC (BTC) | $329.9M | inflows |
The top funds reveal a trend of capital flowing away from Grayscale products while favoring BlackRock's ETFs, indicating a shift in institutional preferences and strategies.
Market Interpretation
The monthly flows highlight a cautious approach from institutional investors amidst ongoing market volatility. Significant capital rotation was observed between the Bitcoin ETF and Ethereum ETF, suggesting that while some investors are reallocating funds, others may be waiting for clearer market signals before committing further capital.
Conclusion
In summary, August 2024 recorded net outflows of -$86.0M, reflecting a period of cautious investment behavior among institutions. As market dynamics continue to evolve, investors may look for opportunities and signals in the coming months. For the latest data, explore All ETF funds.