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US Spot ETF Cumulative Money Flow

Cumulative USD net flow of US spot ETFs since Jan 2024

PropertyValue
CategoryETF Analytics
UnitUSD
Resolution1d
AssetsBTC
TierBasic
API EndpointGET /v1/etf/aggregate
Fieldus_spot_cumulative_money_flow

Overview​

US Spot ETF Cumulative Money Flow is the running total of US Spot ETF Daily Net Flow (USD) since the US spot Bitcoin ETFs started trading on 11 January 2024. It answers the question "how much net investor money has gone into US spot Bitcoin ETFs so far" and is the cumulative figure usually quoted in the news.

Each trading day adds the dollar value of shares created minus shares redeemed across IBIT, FBTC, BITB, ARKB, BTCO, EZBC, BRRR, HODL, BTCW, GBTC, Grayscale Mini and MSBT, valued at each fund's own NAV. The series is exactly the sum of the daily values: its last point equals the sum of all daily flows from 11 January 2024 to that day. Weekends and holidays carry the previous value.

GBTC's redemptions since its conversion to an ETF are included, but the BTC that GBTC already held as a trust before 11 January 2024 is not: it was not new money invested through an ETF.

Formula​

Cumulative Flowt=∑d=2024-01-11tFlowd,Flowd=∑f∈US spot(Sf,d−Sf,d−1)×NAVf,d\text{Cumulative Flow}_{t} = \sum_{d = \text{2024-01-11}}^{t} \text{Flow}_{d}, \qquad \text{Flow}_{d} = \sum_{f \in \text{US spot}} (S_{f,d} - S_{f,d-1}) \times \text{NAV}_{f,d}

  • Sf,dS_{f,d} — shares outstanding of fund ff after trading day dd; NAVf,d\text{NAV}_{f,d} — the fund's NAV per share of day dd
  • Empty before 11 January 2024
  • The newest day is provisional while some funds have not published their figure yet; when it is updated, the running total moves with it

Method change (October 2026)​

Before October 2026 this series was an estimate: the daily change in BTC held times the BTC price, seeded with all US ETF holdings (including GBTC's trust balance) at the price of 10 January 2024. The estimate counted sponsor fees paid in BTC as outflows and valued flows at the BTC price instead of the funds' NAV. The series now adds up the actual creations and redemptions, so its level is lower than the old estimate.

Interpretation​

  • Rising: net new money keeps entering US spot ETFs; the slope shows the pace of inflows.
  • Flat: inflows and outflows offset each other.
  • Falling: net redemptions — investors are taking money out of the funds.
  • Compare with US ETF AUM: AUM also moves with the BTC price. The gap between AUM and the cumulative flow reflects price gains or losses on the money invested, plus the BTC GBTC held before it became an ETF.

Use Cases​

  • Headline ETF demand: the total net inflow into US spot Bitcoin ETFs since launch, consistent with the daily flow figures.
  • Pace of adoption: compare the slope across periods to see whether institutional demand is accelerating or fading.
  • Price context: overlay with the BTC price to see whether flows lead or follow price moves.
  • Fund-level drill-down: ETF Net Flow USD (Per Fund) shows which funds drive the total.

API Usage​

curl -H "Authorization: Bearer YOUR_API_KEY" \
  "https://api.blocklens.co/v1/etf/aggregate?fields=us_spot_cumulative_money_flow&limit=30"

API Usage​

curl -H "Authorization: Bearer YOUR_API_KEY" \
  "https://api.blocklens.co/v1/etf/aggregate?start_date=2024-01-01&end_date=2024-12-31&limit=365"