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ETF Cumulative Flow (Per Fund)

Running sum of all daily BTC flows for a specific ETF fund since inception

PropertyValue
CategoryETF Analytics
UnitBTC
Resolution1d
AssetsBTC
TierPro
API EndpointGET /v1/etf/ticker
Fieldcumulative_flow_btc

Overview​

ETF Cumulative Flow (Per Fund) is the running sum of all daily net BTC flows for a specific ETF fund from its inception. It shows the total net accumulation or distribution over the fund's entire history and provides a cleaner picture of long-term fund trajectory compared to the noisy daily flow signal.

Formula​

Cumulative Flowt=∑i=0tNet Flowi=∑i=0t(BTC Holdingsi−BTC Holdingsi−1)\text{Cumulative Flow}_{t} = \sum_{i=0}^{t} \text{Net Flow}_{i} = \sum_{i=0}^{t} (\text{BTC Holdings}_{i} - \text{BTC Holdings}_{i-1})

Which simplifies to:

Cumulative Flowt=BTC Holdingst−BTC Holdings0\text{Cumulative Flow}_{t} = \text{BTC Holdings}_{t} - \text{BTC Holdings}_{0}

Where BTC Holdings0\text{BTC Holdings}_{0} is the fund's holdings on its first day.

Interpretation​

  • Rising trend: The fund has been a net accumulator since inception — more BTC entered than exited.
  • Falling trend: Net redemptions are outpacing creations — investors are withdrawing capital from this fund.
  • Flat periods: Fund size has stabilized; no significant net flow in either direction.
  • Sharp drops: Large redemption events — may coincide with competitor fund launches (e.g., GBTC outflows after spot ETF approval in Jan 2024).
  • Divergence from price: When cumulative flows rise while price falls, the fund is accumulating at lower prices (bullish signal).

Use Cases​

  • Long-term fund health: Is this fund growing or shrinking in BTC terms over multi-year timeframes?
  • Competitive analysis: Compare cumulative flows across funds to see which products are winning the ETF war.
  • GBTC discount/premium dynamics: Historically, GBTC's cumulative flow declined during premium→discount transitions.
  • Investor conviction gauge: Sustained positive cumulative flows indicate persistent institutional demand.

API Usage​

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