JPMorgan sees $50B in crypto inflows so far this year, stronger 4Q momentum

JPMorgan sees $50B in crypto inflows so far this year, stronger 4Q momentum

JPMorgan estimates about $50 billion has flowed into the cryptocurrency market so far this year, with the annualized figure at roughly $66 billion, The Block reported, citing a report from a research team led by analyst Nikolaos Panigirtzoglou. That is up from the bank’s $52 billion estimate in May, but still only about half of last year’s annualized total. The report said corporate crypto purchases and VC fundraising were the main drivers in the first half, while ETF inflows and a rise in futures positions stood out in the third quarter. It added that participation by retail and institutional investors has expanded, helping build positive momentum for fourth-quarter fund flows. JPMorgan typically estimates crypto market inflows by combining flows into crypto funds, flows in CME futures, crypto venture capital fundraising, and digital asset purchases by listed miners and companies.