Crypto ETF Month — August 2024: net -$86.0M
August 2024 saw a total net outflow of -$86.0M in spot crypto ETFs, with Bitcoin and Ethereum as the main assets involved. The month was marked by significant inflow and outflow activity, particularly for Bitcoin.
TL;DR
- Net flow: -$86.0M
- Total inflows: +$1.9B
- Total outflows: -$2.0B
- Strongest day: Aug 23 (+$246.3M) · Weakest day: Aug 2 (-$291.7M)
Monthly Overview
In August 2024, net flows into spot crypto ETFs were negative, with a total net outflow of -$86.0M. The month saw significant concentration in flows, primarily driven by Bitcoin and Ethereum, with only these two assets recording activity.
Flows by Asset
BTC
Net: -$92.2M / Inflow: +$1.4B / Outflow: -$1.5B
| Fund | Flow |
|---|---|
| Grayscale | -$910.0M |
| BlackRock | +$888.9M |
| Grayscale BTC | +$329.9M |
| 21Shares | -$276.8M |
| WisdomTree | +$138.9M |
| Fidelity | -$122.4M |
| Bitwise | -$98.5M |
| VanEck | -$19.7M |
| Invesco | -$14.2M |
| Franklin | -$8.9M |
| Valkyrie | +$0.6M |
ETH
Net: +$6.2M / Inflow: +$589.4M / Outflow: -$583.2M
| Fund | Flow |
|---|---|
| Grayscale | -$583.2M |
| BlackRock | +$389.4M |
| Fidelity | +$113.5M |
| Grayscale ETH | +$38.4M |
| Bitwise | +$29.6M |
| VanEck | +$11.9M |
| Franklin | +$5.8M |
| Invesco | +$0.8M |
Weekly Breakdown
| Week | Net flow |
|---|---|
| Aug 1 – Aug 2 | -$214.4M |
| Aug 5 – Aug 9 | -$62.2M |
| Aug 12 – Aug 16 | +$18.3M |
| Aug 19 – Aug 23 | +$461.9M |
| Aug 26 – Aug 30 | -$289.6M |
Biggest Fund Moves
Largest inflows
- BlackRock (BTC): +$888.9M
- BlackRock (ETH): +$389.4M
- Grayscale BTC (BTC): +$329.9M
- WisdomTree (BTC): +$138.9M
- Fidelity (ETH): +$113.5M
Largest outflows
- Grayscale (BTC): -$910.0M
- Grayscale (ETH): -$583.2M
- 21Shares (BTC): -$276.8M
- Fidelity (BTC): -$122.4M
- Bitwise (BTC): -$98.5M
Market Interpretation
Bitcoin experienced substantial outflows totaling -$92.2M, despite inflows of +$1.4B, indicating a significant capital withdrawal from the asset. Ethereum, on the other hand, managed a small net inflow of +$6.2M, suggesting some institutional interest remained despite the overall negative sentiment. Notably, the strongest day for flows was August 23, with +$246.3M, while the worst day occurred on August 2, reflecting a critical point of capital loss.
Conclusion
The month concluded with a net figure of -$86.0M, highlighting a trend of outflows amid fluctuating inflow activity. The contrasting performances of Bitcoin and Ethereum indicate a selective investor sentiment within the crypto ETF space.