Monthly Overview
In July 2024, net flows into spot crypto ETFs amounted to +$2.7B, driven primarily by BTC. Only BTC and ETH recorded flows, with BTC seeing a significant inflow compared to ETH's outflow.
Weekly Breakdown
| Week | Net flow |
|---|---|
| Jul 1 – Jul 5 | +$238.4M |
| Jul 8 – Jul 12 | +$1.0B |
| Jul 15 – Jul 19 | +$1.2B |
| Jul 22 – Jul 26 | +$193.5M |
| Jul 29 – Jul 31 | -$35.7M |
Biggest Fund Moves
Largest inflows
- BlackRock (BTC): +$2.3B
- Fidelity (BTC): +$785.4M
- BlackRock (ETH): +$623.2M
- Bitwise (ETH): +$284.5M
- Fidelity (ETH): +$279.4M
Largest outflows
- Grayscale (ETH): -$2.0B
- Grayscale (BTC): -$426.9M
Market Interpretation
Institutional capital appears to have favored BTC, with BlackRock and Fidelity leading inflows of +$2.3B and +$785.4M, respectively. In contrast, ETH experienced substantial outflows, notably from Grayscale, which withdrew -$2.0B. The best-performing day was July 22, with a net inflow of +$485.9M, while the worst day was July 25, reflecting the volatility in ETH positioning. This suggests a rotation of capital away from ETH towards BTC during the month.
Conclusion
The month closed with a total net figure of +$2.7B, indicating a strong preference for BTC among investors. The overall inflow trend highlights a growing confidence in BTC, despite ETH's challenges.
Flows are net creations minus redemptions, published the next morning (T+1). Text written by AI from computed figures. Market data for informational purposes only. Not investment advice.