Cryptocurrency Markets: July 24 Spot ETP Flows: Daily Net Redemptions ($311mn) Plague End of Week, but Week Ended July 24 Remained Marginally Positive at ~$143mn Total

Research evidence excerpt

Cryptocurrency Markets: July 24 Spot ETP Flows: Daily Net Redemptions ($311mn) Plague End of Week, but Week Ended July 24 Remained Marginally Positive at ~$143mn Total

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

27 July 2026

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Cryptocurrency Markets

July 24 Spot ETP Flows: Daily Net Redemptions

($311mn) Plague End of Week, but Week Ended July

24 Remained Marginally Positive at ~$143mn Total

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

redemptions of $240mn and $71mn, respectively, on Friday, July 24, 2026. We Exchanges

estimate that the U.S. spot Solana ETPs reported no net new flows on Friday. 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 $240mn on (1-212) 622-4911

Friday, July 24, 2026, a second consecutive day of net outflows. The net madeline.daleiden@jpmchase.com

redemptions were concentrated, led predominantly by BlackRock’s IBIT, which Michael Cho

shed $212mn on Friday, or ~88% of the daily net flows. Fidelity’s FBTC rounded (1-212) 622-3619

out the group’s net daily flows with net redemptions of $28mn. Bitcoin’s price shed michael.cho@jpmchase.com

1.5% on Friday, dragging the token down to $64.1k, but we now see the token J.P. Morgan Securities LLC

tracking higher at time of publication, near ~$65.0k. Finally, the group’s notional