TechFlow News, April 4: According to a report by The Block, JPMorgan analysts’ latest report states that total digital asset flows in Q1 2026 amounted to approximately $11 billion—only one-third of the level seen in Q1 2025. Annualized, this equates to roughly $44 billion, far below the record $130 billion for the full year 2025.
The report notes that Q1 flows were primarily driven by Bitcoin corporate treasury purchases under “Strategy” and crypto venture capital funding, while retail and institutional investor flows were minimal—or even negative. Specifically:
- ETFs: Spot Bitcoin and Ethereum ETFs recorded net outflows overall in Q1, concentrated mainly in January; Bitcoin ETFs saw some inflows in March.
- Futures: CME futures open interest weakened notably compared to both 2024 and 2025, with institutional futures demand turning negative.
- Miners: Bitcoin miners turned into net sellers in Q1, primarily due to tighter financing conditions and stricter financial discipline; some mining firms also pivoted toward AI-related businesses.
- Venture Capital: Crypto VC fundraising remained robust overall, but deal volume and investor participation declined, with capital increasingly concentrated in a few large-scale projects.
JPMorgan had previously projected further growth in crypto flows for 2026, but Q1 data indicate actual performance is significantly weaker than expected.
Add to Favorites
Share to Social Media
