institutional-crypto

What this skill does

# Institutional Crypto Analysis

Analyze institutional and TradFi exposure to crypto by combining corporate
holdings data, ETF flow data, and price context.

## Workflow

### Step 1 - Corporate and institutional holdings

Fetch public companies and institutions that hold crypto on their balance
sheets, including market-to-NAV ratios.

```
defillama:get_dat_holdings
  include_mnav: true
```

Key fields: `institution_slug`, `token`, `amount`, `holding_usd_value`, `mNAV`.

Sort by value to show the largest holders. Note any entities trading at
a significant premium or discount to NAV (mNAV far from 1.0).

### Step 2 - Bitcoin ETF flows

Get recent BTC ETF inflow and outflow data.

```
defillama:get_etf_flows
  token: "bitcoin"
```

Positive flows = net buying. Negative flows = net selling.

### Step 3 - Ethereum ETF flows

Get recent ETH ETF inflow and outflow data.

```
defillama:get_etf_flows
  token: "ethereum"
```

### Step 4 - Price context

Fetch current BTC and ETH prices to contextualize the flows.

```
defillama:get_token_prices
  token: ["coingecko:bitcoin", "coingecko:ethereum"]
```

## Output Format

Present the report with these sections in order:

1. **Institutional Holdings** - Top holders ranked by USD value. Include
   entity name, token held, amount, value, and mNAV. Call out any
   notable changes or premium/discount to NAV.
2. **Bitcoin ETF Flows** - Recent daily/weekly flows, cumulative AUM,
   and trend direction. Name the top ETFs by flow.
3. **Ethereum ETF Flows** - Same structure as BTC ETFs.
4. **Price Context** - Current BTC and ETH prices, helping the user
   understand the dollar magnitude of flows.
5. **Key Takeaways** - Summarize whether institutional appetite is
   growing or shrinking, and any notable patterns.

## Tips

- Sustained positive ETF flows alongside rising price = strong
  institutional demand.
- An entity with mNAV >> 1 is trading at a premium to its crypto
  holdings (e.g., MicroStrategy often trades above NAV).
- Compare weekly ETF flows to previous weeks to identify acceleration
  or deceleration in institutional buying.
- Negative ETF flows during price dips may indicate profit-taking
  rather than loss of conviction if flows resume quickly.
- Use `start_date` / `end_date` for custom date ranges when analyzing
  specific periods (e.g., `start_date: "2025-01-01", end_date: "2025-03-31"`).