Cryptocurrency Markets: July 21 Spot ETP Flows: Daily Net Sales Continue Yesterday at $247mn Driven by BlackRock’s Products; WTD Net Flows Tracking >$500mn

Research evidence excerpt

Cryptocurrency Markets: July 21 Spot ETP Flows: Daily Net Sales Continue Yesterday at $247mn Driven by BlackRock’s Products; WTD Net Flows Tracking >$500mn

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

22 July 2026

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Cryptocurrency Markets

July 21 Spot ETP Flows: Daily Net Sales Continue

Yesterday at $247mn Driven by BlackRock’s Products;

WTD Net Flows Tracking >$500mn

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

of $204mn and $38mn, respectively, on Tuesday, July 21, 2026. We estimate that Exchanges

the U.S. spot Solana ETPs reported net sales of $6mn 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 $204mn on Tuesday, (1-212) 622-4911

July 21, 2026. BlackRock’s IBIT gathered $164mn yesterday, leading the group. madeline.daleiden@jpmchase.com

Fidelity’s FBTC, ARKInvest/21Shares’ ARKB, and Grayscale’s mini BTC each Michael Cho

contributed here as well with net sales of $23mn, $10mn and $6mn, respectively. (1-212) 622-3619

The group’s aggregate assets stood at $80,922mn as of yesterday’s close, with michael.cho@jpmchase.com

Bitcoin rising 1.6% intra-session, per Bloomberg pricing. Finally, the group’s total J.P. Morgan Securities LLC

notional trading volumes were roughly flat sequentially and totaled $2,030mn