Cryptocurrency Markets: July 29 Spot ETP Flows: Net Neutral Flows Yesterday as BTC and ETH ETPs‘ Dynamics Offset (~$1mn); WTD Outflows Tracking ~$67mn

Research evidence excerpt

Cryptocurrency Markets: July 29 Spot ETP Flows: Net Neutral Flows Yesterday as BTC and ETH ETPs‘ Dynamics Offset (~$1mn); WTD Outflows Tracking ~$67mn

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

30 July 2026

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Cryptocurrency Markets

July 29 Spot ETP Flows: Net Neutral Flows Yesterday

as BTC and ETH ETPs’ Dynamics Offset (~$1mn);

WTD Outflows Tracking ~$67mn

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

of $32mn and net redemptions of $33mn, respectively, on Wednesday, July 29, Exchanges

2026. We estimate that the U.S. spot Solana ETPs reported no net new flows Kenneth B. Worthington, CFA AC

yesterday. (1-212) 622-6613

kenneth.b.worthington@jpmorgan.com

U.S. Spot Bitcoin ETP Flows Madeline Daleiden

(1-212) 622-4911

We estimate U.S. spot Bitcoin ETP preliminary net sales of $32mn on Wednesday, madeline.daleiden@jpmchase.com

July 29, 2026, after four consecutive days of net outflows. Flows were relatively Michael Cho

concentrated here with BlackRock’s IBIT attracting $89mn in net sales yesterday. (1-212) 622-3619

Offsetting these net sales were net outflows of $43mn from Fidelity’s FBTC and michael.cho@jpmchase.com

$15mn from ARK/21Shares’ ARKB. No other vehicles we track contributed to the J.P. Morgan Securities LLC

group’s net new flows. Altogether, the group’s assets ended yesterday’s session at

$77,441mn. The group’s notional trading volumes rose a touch sequentially to