JPMorgan Chase: Cryptocurrency market net inflows have reached $12 billion this year

Golden Finance reported that JPMorgan Chase (JPM) said in a research report on Wednesday that net inflows into digital assets have reached $12 billion so far this year, and if funds continue at the same pace, this figure could grow to $26 billion by the end of the year. The report said that spot Bitcoin ETFs attracted $16 billion in net inflows. This figure, combined with Chicago Mercantile Exchange (CME) futures flows plus funds raised by cryptocurrency venture capital funds, will increase the total inflows into the digital asset market to $25 billion this year. Still, not all of this inflow is new money entering the cryptocurrency space. "We believe that digital wallets on exchanges are likely to shift significantly to new spot Bitcoin ETFs," wrote analysts led by Nikolaos Panigirtzoglou.