加密货币市场：8月19日现货ETP资金流：白宫积极评论推动代币价格上涨；所有类别昨日吸引6.99亿美元；周度净销售额改善至12.89亿美元，为4月中旬以来最佳

研报英文原文证据摘录

J P M O R G A N

North America Equity Research

20 August 2026

This material is neither intended to be distributed to Mainland China investors nor to provide securities investment consultancy services within the

territory of Mainland China. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan.

Cryptocurrency Markets

Aug 19 Spot ETP Flows: Token Prices Jump on Positive

White House Commentary; All Groups Attract $699mn

Yesterday; WTD Net Sales Improve to $1,289mn, Best

Since Mid-April

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

of $518mn and $178mn, respectively, on Wednesday, August 19, 2026. We

estimate that the U.S. spot Solana ETPs reported $3mn in net sales 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 $518mn on

Wednesday, August 19, 2026, its best day of net sales since early May 2026.

BlackRock’s IBIT gathered $285mn yesterday, just ~55% of the group’s net flows.

Sizable contributors include ARKInvest/21Shares’ ARKB and Fidelity’s FBTC

which each attracted $78mn and $63mn, respectively. Other contributors are

detailed below in Table 1. Altogether, the group’s AUM totaled $84,312mn, up

~7.0% sequentially, per Bloomberg pricing, as crypto tokens reacted to a positive

tone coming from President Trump’s meeting including both crypto and traditional

capital markets CEOs in the White House yesterday afternoon. Aggregate notional

trading volumes also jumped sequentially to $6,894mn, well ahead of the running

daily average of ~$3,218mn/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 19, 2026 BTC ETP Flows: Bitcoin Gains 7.0% Yesterday as Bitcoin ETPs

Post Best Net Sales Day ($518mn) Since May 2026

U.S. Bitcoin Spot ETFs

August 19 Daily

Flows (JPMe)

Total Flows

(JPMe)

August 19 AUM

Seed Capital

Current Fee Rate

Fee Rate exWaiver

Ticker

Issuer

IBIT

FBTC

BITB

ARKB

BTCO

BRRR

EZBC

HODL

BTCW

GBTC

BlackRock

Fidelity

Bitwise

ARK / 21Shares

…