Cryptocurrency Markets: July 15 Spot ETP Flows: Net Sales Persist for Second Consecutive Day with $157mn Gathered; WTD Flows Still Tracking Net Negative ~$44mn

Research evidence excerpt

Cryptocurrency Markets: July 15 Spot ETP Flows: Net Sales Persist for Second Consecutive Day with $157mn Gathered; WTD Flows Still Tracking Net Negative ~$44mn

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

16 July 2026

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Cryptocurrency Markets

July 15 Spot ETP Flows: Net Sales Persist for Second

Consecutive Day with $157mn Gathered; WTD Flows

Still Tracking Net Negative ~$44mn

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

of $108mn and $50mn, respectively, on Wednesday, July 15, 2026. We estimate the Exchanges

U.S. spot Solana ETPs reported net outflows of $1mn 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 sales of $108mn on (1-212) 622-4911

Wednesday, July 15, 2026with a handful of vehicles contributing. BlackRock’s madeline.daleiden@jpmchase.com

IBIT again led the group with net inflows of $81mn. Fidelity’s FBTC gathered Michael Cho

$17mn while Grayscale’s mini BTC attracted a similar $10mn, rounding out the (1-212) 622-3619

group. No other vehicles we track posted net new flows yesterday. Bitcoin gained michael.cho@jpmchase.com

0.6% during yesterday’s session, per Bloomberg pricing. The group’s total J.P. Morgan Securities LLC

notional trading volumes declined sequentially and totaled $1,579mn yesterday,