Crypto ETF Flows — September 2024
In September 2024, the crypto ETF market experienced net inflows of $1.2B, with total inflows reaching $2.2B and outflows of $978.9M. The month displayed a mix of investor sentiment, leaning slightly towards risk-on behavior.
TL;DR
- Monthly net flow: net inflows of $1.2B (net $1.2B).
- Total inflows: $2.2B. Total outflows: $978.9M.
- Strongest single day: 2024-09-27 ($553.1M).
- Weakest single day: 2024-09-03 (-$335.2M).
Monthly Overview
In September 2024, spanning 30 trading days, the crypto ETF market showed a net inflow of $1.2B, indicating a moderate risk-on sentiment among investors. Total inflows amounted to $2.2B, while outflows were recorded at $978.9M. This month’s behavior can be explored further in our crypto ETF dashboard.
Weekly Breakdown
- Week 1: The month started off negatively, with significant outflows, particularly on 2024-09-03, resulting in a total of -$335.2M for that day.
- Week 2: The trend began to shift with minor inflows on several days, culminating in a positive flow on 2024-09-13 ($264.7M).
- Week 3: Continued improvement with a mix of inflows, notably on 2024-09-19 ($163.5M) and 2024-09-24 ($198.5M).
- Week 4: The month peaked with the strongest day on 2024-09-27, which saw inflows of $553.1M, contributing significantly to the month’s total.
Top Funds of the Month
| Fund | Net Flow | Direction |
|---|---|---|
| BlackRock (BTC) | $577.9M | inflows |
| 21Shares (BTC) | $404.2M | inflows |
| Grayscale (ETH) | -$346.6M | outflows |
| Grayscale (BTC) | -$238.6M | outflows |
| Fidelity (BTC) | $165.2M | inflows |
The top funds this month reflect a strong preference for Bitcoin, with significant inflows into BlackRock and 21Shares, while Grayscale experienced notable outflows, particularly in Ethereum and Bitcoin.
Market Interpretation
The flows in September suggest a cautious but optimistic stance among institutional investors, with a clear preference for Bitcoin over Ethereum. As inflows into the Bitcoin ETF outpaced those in the Ethereum ETF, it indicates a strategic capital allocation favoring Bitcoin during this period. This rotation may be driven by recent market conditions and investor sentiment.
Conclusion
September 2024 concluded with a net flow of $1.2B, highlighting a robust interest in crypto ETFs despite some volatility. As the market continues to evolve, it will be crucial to monitor these trends for future insights. For the latest data, check out All ETF funds.