JPMorgan Chase: Q1 crypto cash flow drops to $11 billion, with a significant year-on-year decrease

According to analysis by JPMorgan, the flow of digital asset funds in the first quarter of 2026 was approximately $11 billion, only one-third of the same period last year, indicating a significant slowdown in market momentum. According to the current pace of annualization, the annual capital flow is expected to be around 44 billion US dollars, far below the high point of around 130 billion US dollars in 2025. This quarter's funds mainly come from the allocation of corporate balance sheets and cryptocurrency venture capital funds, with a decrease in the participation of traditional investors. CME's Bitcoin futures positions weakened, and although spot Bitcoin and Ethereum ETF funds flowed out and returned in March, the overall market remained weak, showing a characteristic of "a few large funds dominating".