ETF Flow Share
The inflow ÷ market cap ratio has a numerator made of flows and a denominator tied to price: when price falls, the curve rises without a dollar flowing in. This chart shows the curve AND the exact log decomposition per month — measured, the market-value term dominates on roughly three quarters of trading days, and on about half the ratio moves against the inflow. Not an adoption metric.
- Formula:
- flow_share = cum_net_inflow ÷ (circulating_supply × close) · Δln(share) = Δln(inflow) − Δln(mcap)
- Originator:
- Ratio: Grayscale/Artemis (2026) · decomposition: Backtesting Arena
- Data source:
- SoSoValue (US-Spot-ETF-Flows) · BRK circulating supply · eigene Preisreihe — Nenner gerechnet, nicht bezogen
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