Crypto Markets Have Seen $12B of Net Inflows This Year, JPMorgan Says
Digital assets have experienced $12 billion in net inflows so far this year, a figure that could reach $26 billion by year-end if the current pace continues, according to a research report by JPMorgan. Spot bitcoin exchange-traded funds (ETFs) have attracted $16 billion of these inflows. Combined with Chicago Mercantile Exchange futures flows and capital raised by crypto venture capital funds, the total inflow into digital asset markets this year is $25 billion. However, JPMorgan believes a significant portion of these inflows represents a rotation from digital wallets on exchanges to new spot bitcoin ETFs, reducing the net flow into digital assets to $12 billion. The bank is skeptical that inflows will continue at the current rate due to the high bitcoin price relative to miners' production cost and the cost of gold.
