Cryptocurrency Markets: July 27 Spot ETP Flows: Daily Net Flows Nearly Entirely Offset Across Token ETPs and Net $1mn of Outflows Yesterday; Week Off to Muted Start

Research evidence excerpt

Cryptocurrency Markets: July 27 Spot ETP Flows: Daily Net Flows Nearly Entirely Offset Across Token ETPs and Net $1mn of Outflows Yesterday; Week Off to Muted Start

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

28 July 2026

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Cryptocurrency Markets

July 27 Spot ETP Flows: Daily Net Flows Nearly

Entirely Offset Across Token ETPs and Net $1mn of

Outflows Yesterday; Week Off to Muted Start

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

redemptions of $12mn and net sales $9mn, respectively, on Monday, July 27, 2026. Exchanges

We estimate that the U.S. spot Solana ETPs reported net sales 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 redemptions of $12mn on (1-212) 622-4911

Monday, July 27, 2026, a third consecutive day of net outflows. The net madeline.daleiden@jpmchase.com

redemptions were concentrated, again between BlackRock’s IBIT and Fidelity’s Michael Cho

FBTC which shed $9mn and $3mn, respectively. BlackRock’s IBIT AUM ended (1-212) 622-3619

the session at $47,733mn, roughly 61% of the group’s total assets of $78,698mn michael.cho@jpmchase.com

after Bitcoin gained 1.2% in yesterday’s session, per Bloomberg pricing. The J.P. Morgan Securities LLC

group’s notional trading volumes fell sequentially and totaled $1,336mn yesterday,