Cryptocurrency Markets: June 22 Spot ETP Flows: Combined Net Redemptions Continue, Roughly Flat from Prior Session ($134mn); New Week off to Another Negative Start as Trading Volume Remain Mute

Research evidence excerpt

Cryptocurrency Markets: June 22 Spot ETP Flows: Combined Net Redemptions Continue, Roughly Flat from Prior Session ($134mn); New Week off to Another Negative Start as Trading Volume Remain Mute

J P M O R G A N North America Equity Research

23 June 2026

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Cryptocurrency Markets

June 22 Spot ETP Flows: Combined Net Redemptions

Continue, Roughly Flat from Prior Session ($134mn);

New Week off to Another Negative Start as Trading

Volume Remain Mute

We estimate U.S. spot Bitcoin ETP and U.S. spot ether ETP preliminary net Brokers, Asset Managers &

redemptions of $68mn and $66mn, respectively, on Monday, June 22, 2026. We Exchanges

estimate no net new flows across the U.S. spot Solana yesterday. Kenneth B. Worthington, CFA AC

(1-212) 622-6613

U.S. Spot Bitcoin ETP Flows kenneth.b.worthington@jpmorgan.com

Madeline Daleiden

We estimate U.S. spot Bitcoin ETP preliminary net redemptions of $68mn on (1-212) 622-4911

Monday, June 22, 2026, the third consecutive day of net outflows and a slight madeline.daleiden@jpmchase.com

moderation from the prior day. There were multiple contributors to yesterday’s net Michael Cho

outflows, led by BlackRock’s IBIT which posted net outflows of $172mn. (1-212) 622-3619

Grayscale’s legacy GBTC also contributed sizable net outflows of $81mn. michael.cho@jpmchase.com

However, there were multiple offsetting, positive contributors to yesterday’s flows J.P. Morgan Securities LLC

as detailed in Table 1. Leading these offsetting net sales were