JPMorgan: Most of the funds flowing into spot Bitcoin ETFs may come from existing digital wallets on exchanges

ChainCatcher news, JPMorgan Chase (JPM) stated in a research report on Wednesday that the spot Bitcoin ETF has attracted $16 billion in net inflows. This figure, combined with the futures flow from the Chicago Mercantile Exchange (CME) and the funds raised by crypto venture capital funds, brings the total funds flowing into the digital asset market this year to $25 billion.
Analysts said, "However, not all of this inflow is new money entering the cryptocurrency space. We believe it is likely that a significant amount of funds has shifted from digital wallets on exchanges to the new spot Bitcoin ETF."