JPMorgan: Q1 crypto fund flows dropped to $11 billion, only one-third of last year's amount year-over-year

ME News message, April 4 (UTC+8). JPMorgan analysis says that in the first quarter of 2026, digital asset capital inflows were about $11 billion, only about one-third of the same period last year, indicating a clear slowdown in market momentum. Based on annualizing the current pace, full-year inflows may be about $44 billion, far below the historical peak of about $130 billion in 2025. In terms of capital structure, the main sources of inflows this quarter are corporate balance sheet allocations (especially companies such as Strategy that continue to buy Bitcoin) and crypto venture capital, while participation from traditional investors (including institutions and retail) has declined significantly. In addition, weakening positions in CME Bitcoin futures reflect institutional demand turning negative; spot Bitcoin and Ethereum ETFs saw outflows in January, and although there was some return in March, the overall tone remains soft. The analysis believes the current market shows structural characteristics of “a few large funds dominating,” rather than broad capital returning. (Source: ChainCatcher)