Crypto ETF Month — September 2024: net +$1.2B
September 2024 saw spot crypto ETFs experience net inflows of +$1.2B, primarily driven by Bitcoin. Ethereum, however, faced notable outflows.
TL;DR
- Net flow: +$1.2B
- Total inflows: +$1.8B
- Total outflows: -$585.2M
- Strongest day: Sep 27 (+$553.1M) · Weakest day: Sep 3 (-$335.2M)
Monthly Overview
In September 2024, net flows into spot crypto ETFs reached +$1.2B, driven primarily by Bitcoin. The month saw significant inflows into Bitcoin, while Ethereum experienced outflows, reflecting a concentrated movement of capital.
Flows by Asset
BTC
Net: +$1.3B / Inflow: +$1.5B / Outflow: -$238.6M
| Fund | Flow |
|---|---|
| BlackRock | +$577.9M |
| 21Shares | +$404.2M |
| Grayscale | -$238.6M |
| Fidelity | +$165.2M |
| Bitwise | +$147.6M |
| Grayscale BTC | +$74.5M |
| VanEck | +$67.6M |
| Franklin | +$27.0M |
| Invesco | +$26.5M |
| Valkyrie | +$7.7M |
| WisdomTree | +$3.2M |
ETH
Net: -$46.0M / Inflow: +$300.6M / Outflow: -$346.6M
| Fund | Flow |
|---|---|
| Grayscale | -$346.6M |
| BlackRock | +$133.5M |
| Fidelity | +$85.6M |
| Grayscale ETH | +$55.2M |
| Bitwise | +$12.6M |
| Invesco | +$7.6M |
| VanEck | +$3.2M |
| 21Shares | +$2.9M |
Weekly Breakdown
| Week | Net flow |
|---|---|
| Sep 3 – Sep 6 | -$797.2M |
| Sep 9 – Sep 13 | +$391.0M |
| Sep 16 – Sep 20 | +$371.0M |
| Sep 23 – Sep 27 | +$1.2B |
| Sep 30 | +$60.5M |
Biggest Fund Moves
Largest inflows
- BlackRock (BTC): +$577.9M
- 21Shares (BTC): +$404.2M
- Fidelity (BTC): +$165.2M
- Bitwise (BTC): +$147.6M
- BlackRock (ETH): +$133.5M
Largest outflows
- Grayscale (ETH): -$346.6M
- Grayscale (BTC): -$238.6M
Market Interpretation
Bitcoin was the primary beneficiary of institutional interest, attracting inflows from major funds such as BlackRock and 21Shares. In contrast, Ethereum faced outflows, with Grayscale being a notable contributor to the losses. The strongest day for net flows was September 27, which suggests renewed buying interest, while the worst day on September 3 indicated early month weakness.
Conclusion
Overall, September ended with a positive net figure of +$1.2B. The data underscores a clear preference for Bitcoin amidst a challenging month for Ethereum.