加密货币市场8月4日现货ETP资金流向：昨日合计净销售额2.65亿美元；贝莱德产品约占每日资金流量的80%

研报英文原文证据摘录

J P M O R G A N

North America Equity Research

05 August 2026

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Cryptocurrency Markets

Aug 4 Spot ETP Flows: Combined Net Sales of $265mn

Yesterday; BlackRock’s Products Account for ~80% of

Daily Flows

We estimate U.S. spot Bitcoin ETP and U.S. spot ether ETP preliminary net sales

of $211mn and $53mn, respectively, on Tuesday, August 04, 2026. We estimate

that the U.S. spot Solana ETPs reported no net new flows yesterday.

Brokers, Asset Managers &

Exchanges

Kenneth B. Worthington, CFA AC

(1-212) 622-6613

U.S. Spot Bitcoin ETP Flows

We estimate U.S. spot Bitcoin ETP preliminary net sales of $211mn on Tuesday,

August 04, 2026. The net sales were primarily driven by BlackRock’s IBIT net

inflows of $170mn, accounting for ~81% of the group’s daily net flows. Fidelity’s

FBTC gathered $20mn yesterday, while Bitwise’s BITB and

ARKInvest/21Shares’ ARKB each gathered $9mn in net sales. Morgan Stanley’s

MSBT rounded out the group with net inflows of $4mn yesterday. The group’s

notional trading volumes declined sequentially to $1,567mn yesterday, still

tracking below the running daily average of ~$3,240mn/day since the January

2024 launch.

Madeline Daleiden

(1-212) 622-4911

Michael Cho

(1-212) 622-3619

J.P. Morgan Securities LLC

Table 1: JPMe August 4, 2026 BTC ETP Flows: BlackRock’s IBIT Again Drives (~81%) Group’s

Daily Net Sales of $211mn with a Few Other Contributors

U.S. Bitcoin Spot ETFs

August 4 Daily

Flows (JPMe)

Total Flows

(JPMe)

August 4 AUM

Seed Capital

Current Fee Rate

Fee Rate exWaiver

BlackRock

Fidelity

Bitwise

ARK / 21Shares

Invesco / Galaxy

CoinShares

Franklin Resources

VanEck

WisdomTree

Grayscale

$170

$20

$9

$0

$60,800

$10,114

$2,028

$3,218

$173

$263

$336

$1,619

$92

-$27,405

$47,650

$11,038

$2,371

$2,166

$355

$379

$371

$1,075

$143

$8,508

$10.0

$20.0

$200.0

$0.4

$5.1

$0.5

$2.6

$72.5

$2.5

$28,581.1

0.25%

0.20%

0.21%

0.25%

0.49%

0.19%

0.00%

0.30%

1.50%

0.25%

0.20%

…