About Crypto ETFs

The ETFs Dashboard is OCM's dedicated intelligence tool for the US Spot ETF market across Bitcoin, Ethereum, Solana, and XRP. It fuses daily net flow data with real-time pricing to compute the aggregate cost basis of every major spot ETF product in real time. Eight analytical views cover every angle of the ETF complex. **Total Flow** plots cumulative net inflows since launch with a colour-graded expansion palette. **Cost Basis** overlays the aggregate **VWAP** (volume-weighted average price) at which all ETF units were acquired, alongside daily flow bars colour-coded by direction. **Asset Held** (dynamically labelled BTC Held / ETH Held / SOL Held / XRP Held) tracks total holdings with two modes: Total Asset or % of circulating supply. **Net Flow** renders user-configurable 7/14/30/60-day rolling net inflows as green/red bars. **Momentum** computes the 30-day flow minus the 90-day average to catch acceleration and deceleration shifts. **Flow Size** strips out direction to show raw daily activity magnitude. **MVRV** shows the ratio of current spot price to the ETF cohort's cost basis. **Liquidity Nodes** applies Gaussian kernel density estimation to surface high-volume price clusters as support/resistance zones. **Traded Volume** tracks share-volume activity with configurable SMAs. The dashboard's core insight is the aggregate **cost basis**: by taking each day's net flow in USD and dividing by that day's spot price, it reconstructs the exact number of coins acquired or released each day across the entire ETF complex. Summing cumulatively and dividing total USD invested by total coins held produces the aggregate **VWAP** - the true volume-weighted average price paid by the ETF cohort. When spot trades above this level the cohort is collectively in profit; when below, underwater. This single metric has become one of the most closely-watched positioning signals in the post-ETF era.

Signal Zones

Trading Signals by Regime

How It Is Calculated

Frequently asked questions

Why does the aggregate ETF cost basis matter?

The aggregate **VWAP** represents the average price every ETF holder collectively paid for their exposure. When spot trades above this level, the entire ETF cohort is in profit on a weighted basis, creating a psychological floor where capitulation selling becomes rare. When spot trades below, a large segment of the ETF cohort is underwater, which historically precedes either forced selling (outflows accelerating a decline) or sharp mean-reversion rallies (short-covering demand). This level has become one of the most closely-watched positioning signals across BTC, ETH, SOL, and XRP ETFs.

How is the ETF MVRV different from on-chain MVRV?

**On-chain MVRV** compares spot to the aggregate cost basis of every coin ever moved on-chain. **ETF MVRV** compares spot only to the cost basis of coins held via US Spot ETFs. ETF MVRV is narrower and faster-responding because ETFs are a newer, more liquid, institutional segment. Both are valuable: on-chain captures the full holder universe; ETF focuses on the policy-sensitive, institutionally driven segment.

What do liquidity nodes tell me?

**Liquidity nodes** are price levels where the selected ETF has spent disproportionate time trading, identified via Gaussian kernel density estimation applied to the price history. The highest-density level (center of gravity) tends to act as a magnet and prices frequently mean-revert to it. Secondary nodes above and below act as support/resistance zones. Crypto markets respect these horizontal volume-based levels more than conventional chart technical patterns.

Why do momentum and net flow look different?

**Net Flow** sums absolute inflow/outflow magnitude over a user-chosen rolling window. **Momentum** specifically measures acceleration: 30-day flow minus (90-day flow ÷ 3). Momentum answers 'is demand accelerating or decelerating?' while net flow answers 'what is the net position change?'. Momentum can turn positive before net flow does, giving earlier trend-reversal signals.

What is the Asset Held view?

The **Asset Held** view (dynamically labelled BTC Held / ETH Held / SOL Held / XRP Held) shows the cumulative coins acquired by the entire ETF complex for the selected asset. It offers two modes: **Total Asset** (absolute holdings in BTC/ETH/SOL/XRP) and **% Supply** (holdings as a percentage of the asset’s circulating supply). Both use the same flow-derived cumulative totals, making it easy to see both absolute scale and relative market share.

How should I use the rolling window selector on Net Flow?

Shorter windows (7D, 14D) are more reactive and pick up near-term shifts quickly, but are noisier. Longer windows (30D, 60D) are smoother and better for confirming persistent regime change. A standard workflow: scan the 7D/14D for early directional shifts, confirm with 30D for trend persistence, and use 60D to rule out noise when the signal is close to zero.