JPMorgan: Cryptocurrency market has seen net inflows of $12 billion so far this year

According to a report by JPMorgan Chase, the crypto market has seen a net inflow of $12 billion so far this year. Among them, Bitcoin spot ETFs attracted $16 billion in net inflows, but most of the funds may have come from digital wallets on existing exchanges. The report pointed out that since the listing of Bitcoin spot ETFs in January, the exchange's Bitcoin reserves have decreased by about 220,000 (US$13 billion), indicating that most of the funds flowing into spot ETFs are actually transferred from existing digital wallets. Although this year's net inflows are stronger than last year, they are still significantly lower than the level during the 2021/2022 bull market. (Coindesk)