Cryptocurrency Markets: AUG 10 Spot ETP Flows: Combined Net Redemptions of $154mn Yesterday on Back of Strong Previous Week’s Net Sales (-$1,087mn)

研报英文原文证据摘录

J P M O R G A N

North America Equity Research

11 August 2026

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Cryptocurrency Markets

Aug 10 Spot ETP Flows: Combined Net Redemptions of

$154mn Yesterday on Back of Strong Previous Week’s

Net Sales (~$1,087mn)

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

redemptions of $145mn and $18mn, respectively, on Monday, August 10, 2026.

We estimate that the U.S. spot Solana ETPs reported net inflows of $9mn

yesterday.

Brokers, Asset Managers &

Exchanges

U.S. Spot Bitcoin ETP Flows

Madeline Daleiden

We estimate U.S. spot Bitcoin ETP preliminary net redemptions of $145mn on

Monday, August 10, 2026with multiple, mixed vehicles contributing.

BlackRock’s IBIT reported net outflows of $54mn, while Grayscale’s legacy

GBTC posted a similar $52mn in net redemptions yesterday. Fidelity’s FBTC and

Bitwise’s BITB also contributed sizable outflows, $40mn and $28mn yesterday,

respectively. Offsetting these net redemptions slightly were net inflows of $37mn

into Grayscale’s mini BTC. Altogether, aggregate notional trading volumes also

increased sequentially to $2,022mn, an improvement, but still less than the running

daily average of ~$3,228mn/day since the January 2024 launch.

Kenneth B. Worthington, CFA AC

(1-212) 622-6613

(1-212) 622-4911

Michael Cho

(1-212) 622-3619

J.P. Morgan Securities LLC

Table 1: JPMe August 10, 2026 BTC ETP Flows: Multiple Double-Digit Outflowing Vehicles

Yesterday Contributing to Group’s Daily Net Redemptions of $145mn

U.S. Bitcoin Spot ETFs

August 10 Daily

Flows (JPMe)

Total Flows

(JPMe)

August 10 AUM

Seed Capital

Current Fee Rate

Fee Rate exWaiver

BlackRock

Fidelity

Bitwise

ARK / 21Shares

Invesco / Galaxy

CoinShares

Franklin Resources

VanEck

WisdomTree

Grayscale

-$54

-$40

-$28

$0

-$7

$0

-$52

$61,579

$10,121

$1,929

$3,223

$154

$254

$219

$1,561

-$176

-$27,450

$47,731

$10,999

$2,343

$2,193

$335

$367

$362

$1,011

$142

$8,435

$10.0

$20.0

…