Q1 crypto inflows fell to $11B, one-third of last year: JPMorgan

Digital asset market inflows totaled $11 billion in the first quarter of this year, roughly one-third of the amount seen in the same period last year, according to an analysis by JPMorgan. The Block reported that, on an annualized basis, this equates to about $44 billion, a significant slowdown from the $130 billion recorded in the first quarter of last year. JPMorgan noted that the inflows were primarily concentrated in corporate BTC purchases, such as those by MicroStrategy, and venture capital investments, while funds from retail and institutional investors were minimal or experienced net outflows. The bank attributed the slowing demand to several factors, including weakening positions in Chicago Mercantile Exchange (CME) futures, outflows from spot ETFs, and a shift by mining companies to become net sellers.